Former St. Cloud Herberger’s In Process of Being Sold
ST. CLOUD -- The former Herberger's building in downtown St. Cloud is in the process of being sold.
Jim Terrell is with A & G Partners, the company that has been in charge of selling off all of the former BonTon properties. He says they are under contract to sell the St. Cloud store to RD Management.
The New York company is also buying the St. Paul location on University Avenue.
Terrell says, "they are a very respected developer from New York City." Terms of the deal haven't been disclosed.
Their online profile says they own several shopping centers around the country, including the Midway Shopping Center in St. Paul.
RD’s retail portfolio consistently attracts such high-profile national tenants as Walmart, Target, Home Depot, Lowe’s, Kohl’s, Old Navy, T.J. Maxx, Ross Dress for Less, BJ’s Whole Sale Club, Stop & Shop and Dick’s Sporting Goods.
Herberger's parent company announced the store closing -- along with all other Herberger's stores -- in April of 2018. The store closed in August of 2018 and the retail space has been empty since then. A & G Partners attempted to sell the building at auction in January of this year but pulled it from the auction block prior to bidding.
The second floor is being leased to Capital One through 2028.