Marcus Investments Partners with Hempel Real Estate and Announces the Acquisition of The Shoppes on Maine, Rochester, MN

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MILWAUKEE–()–Berengaria Development, a portfolio company of Marcus Investments, announced that it has partnered with Rochester native, Joshua Krsnak, CEO of Minneapolis-based Hempel Real Estate to complete the acquisition of The Shoppes on Maine, Rochester, MN. This asset is the third property to be placed into Marcus Investments’ Fund, Marcus Real Estate Fund I, LP after closing on the Fund in August 2020.

The Shoppes on Maine is a value-add regional power center located in Rochester, MN, the third largest city in the state. The tenant mix of current high quality mid-box retailers, coupled with the center’s potential to increase revenues through lease-up of existing vacancies, makes The Shoppes on Maine an ideal property for the Marcus Fund.

Jay Peirick, President of Berengaria, said, “This off-market opportunity is a great value-add investment in a stable market of Minnesota. We believe the asset’s strong real estate…

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