Popular Cedar Rapids Shopping Center Sold

One of the most popular and high-profile shopping centers in Cedar Rapids has been sold.

The Cedar Rapids Gazette reports that a California-based buyer recently purchased Northland Square shopping center for $17.5 million. The 106,500-square-foot shopping center sits in the 300 block of Collins Road in Cedar Rapids. Hanley Investment Group facilitated the sale on behalf of the private partnership that previously owned the property, according to the Gazette. Northland Square has been sold multiple times since it opened in 1994.

The Gazette reports included in the sale were storefronts filled by retailers TJ Maxx, Barnes and Noble, Office Max, Old Navy, Famous Footwear, and Hallmark. The building the is occupied by Kohl's was not included in the sale. The Gazette reports that each of those stores will continue to operate under the center's new ownership. In a press release on the sale, the property is referred to as a "top-performing shopping center."

The property remains desirable for a number of reasons including being located along Collins Road and near Lindale Mall which will see the addition of Dick's House of Sport in 2026. The Gazette reports that the shopping center features 100 percent occupancy and many of the tenants have recently signed long-term lease extensions.

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