Edina’s Brait Capital Buys One of St. Cloud’s Largest Malls

(KNSI) – A Minnesota company now owns one of St. Cloud’s most prominent commercial properties.

Brait Capital of Edina recently purchased the Midtown Square Mall, which includes both office and shopping space. Managing Partner Hassan Nurie says they will be aggressive in finding new tenants.

“It’s a well-known location, and we’re getting a lot of inquiries. And so we want to make sure we can get it once again to a very high level of occupancy by working with the right tenants and drawing traffic and interest in there.”

The office wing of the property is mostly full, according to Nurie. He says the mall side recently lost a gym, cafe, and the DMV branch. Nurie expects to have a new restaurant operating at the mall in about eight months, ushering in the Brait Capital era.

Nurie says having Crossroads Center nearby could be advantageous, and collaboration between the two malls is possible. He says some Crossroads tenants may be better suited for Midtown Square or vice versa. One is a traditional retail setting, the other has more range.

“Midtown has the flexibility to take on a lot of different kinds of tenants and potential for adaptive reuse, where we could even convert the spaces to a completely different use.”

Nurie says working together can help benefit the community as a whole. Midtown Square Mall first opened in 1982 and has over 170,000 square feet. A Dunkin Donuts location was recently constructed on an outlot parcel. Nurie is focusing on the inside primarily but says parking is abundant at the site, and other freestanding locations could be a possibility.

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