Shops at West End in St. Louis Park sells for $117 million

The Shops at West End changed ownership hands last month in a $117-million sale.

The property was bought by a subsidiary of New York-based American Realty Capital on Dec. 23 from Duke Realty, according documents filed by the buyer.

West End is known as a lifestyle center, featuring a mix of shopping, entertainment and dining. The shopping complex is more than 381,000 square feet and currently has 41 tenants. It's 93 percent leased, according to the Securities and Exchange Commission filing.

The three largest tenants -- Cub Foods, Latitude 360 (scheduled to open early this year) and ShowPlace Icon Theatre -- occupy 43 percent of the entire complex.

Meanwhile, a Florida-based development company is proposing a five-building project in the West End district on a 13.48-acre site also owned by Duke Realty. DLC Residential's plan is making its way through the approval process in both St. Louis Park and Golden Valley since the property crosses city boundaries.

The West End Redevelopment area includes 49 acres of land at the southwest corner of I-394 and Highway 100. The mixed-use hub is now home to The Shops at West End shopping center, The Flats at West End apartments, the Moneygram and 1600 office towers, and several restaurants. The Millennium at West End apartment complex is currently under construction.

If DLC gains both cities' approval, the site would see an additional 363 apartment units, 2,600 parking stalls, 150 hotel rooms and 706,000 square feet of office space.

The Shops at West End under construction in 2008. Star Tribune file photo.