Herbergers Department Store Extends Marktplatz Mall Lease

New Ulm Retail and Development, LLC, the new owner of the Marktplatz Mall in New Ulm, Minnesota, announced that Herbergers, the anchor store for the 60,000 square foot mall, has extended its lease through 2012. Part of a regional chain of department stores in the Mid-West, New Ulm Herbergers is one of the original stores in the chain. “Herbergers decision to renew the lease for four more years was based on our confidence in the owner’s plans to... 

Wilshire Finance Partners Provides $375,000 Junior Debt toward Purchase of Minnesota Mall

Wilshire Finance Partners, a commercial real estate lending organization, announced that it provided New Ulm Retail and Development, LLC, Irvine, CA, with a $375,000.00 junior debt toward the purchase of Marktplatz Mall, New Ulm, Minnesota. American Bank of Minnesota carries the senior debt of $700,000.00 to complete the acquisition of $1,075,000 in funds. The 60,000 square foot mall is anchored by Herbergers, a regional chain of department stores....