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Group buys St. Paul's Market House Collaborative spaces (slideshow)

David Clarey

7/30/2018, 7:16am CDT


The spaces that make up Market House Collaborative in Lowertown St. Paul were sold last week for $1.82 million. Made up of the collection of business that were envisioned by star chef Tim McKee, the 25,000-square-foot space includes his Octo Fishbar restaurant, a fish and meat market, a bakery and the forthcoming Birch’s Lowertown brewery. The new owners don't anticipate to make any changes for the existing tenants, and hope they stay there beyond their five-year leases. A trio of investors from Caspian Group — Rafik Moore, Marshall Nguyen and Raim Abdurakhimov — and Daniel Kurkowski of VSM Real Estate jointly purchased the spaces that house the businesses. “We think the property has the potential to appreciate,” said Rafik Moore, the Edina-based Caspian’s principal. “We basically have the tenants there ... [and we] want to try to maintain it.” Cushman and Wakefield’s Andrea Christenson represented the previous owner Kris Maritz on the deal. The former Heatland Restaurant & Farm Direct Market space, McKee’s food hall concept first opened in October 2017 and houses the St. Paul Farmer’s Market during the winter.

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© 2023 Wyn Group LLC. This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs.

Minnesota License Number: 4060524B

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