THURSDAY, NOVEMBER 20, 2008

Herbergs extends Marktplatz Mall lease

by Jim Brubaker
Minnesota

Herbergers, the anchor of the 60,000-square-foot Marktplatz Mall in New Ulm, Minn., newly acquired by New Ulm Retail and Development, LLC, has extended its lease through 2012.

"Herbergers decision to renew the lease for four more years was based on our confidence in the owner's plans to reposition the Marktplatz Mall to attract new tenants and to work with the community to spur the growth of the retail business sector in the City of New Ulm," Rollo Lentz, Herbergers manager, said.

The fully enclosed class A Marktplatz Mall features subterranean parking and retail spaces in a variety of sizes for short or long term leases with flexible terms.

Martkplatz Mall was acquired in Sept. 2008 by New Ulm Retail and Development. Los Angeles-based Wilshire Finance Partners provided a junior debt toward the purchase and American Bank of Minnesota carries the senior debt.

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