ST. CLOUD, MN – July, 2026 Inventure has acquired Centre Place, a 100 percent occupied, 18,866 square foot multi tenant retail center at 4170 West Division Street in St. Cloud, Minnesota. The property sits on 1.49 acres at the signalized intersection of Division Street and Waite Avenue S, directly across from Crossroads Center.
The acquisition closed in July 2026 and adds one of the most established retail addresses in Central Minnesota to the Inventure portfolio. Centre Place is fully leased to six tenants, including the United States Postal Service, Sleep Number, Smile Orthodontics, Sun Tan City, Hajime Restaurant and Bar, and Erbert and Gerbert’s.
For Inventure, the appeal was simple. Division Street is the primary retail artery for the entire region, the center has been full for years, and most of the tenants have been in the building for more than a decade.
Property Details
- Address – 4170 West Division Street, St. Cloud, MN 56301
- Building size – 18,866 square feet of gross leasable area
- Land area – 1.49 acres
- Year built – 1996
- Occupancy – 100 percent, fully leased
- Tenants – Six, anchored by USPS, Sleep Number, and Smile Orthodontics
- Building type – Single story unanchored retail center, 100 percent sprinklered
- Parking – Approximately 85 dedicated stalls
- Lease structure – NNN for five of six tenants, modified gross for USPS
- Site access – Two access points, one off Division Street and one off Waite Avenue S
- Traffic counts – 26,690 vehicles per day on Division Street and 8,400 on Waite Avenue S
- Adjacent corridor – MN Highway 15 carries more than 33,000 vehicles per day
- Market – St. Cloud Metropolitan Statistical Area, Stearns County
What Makes This a Strong Acquisition
Across the Street From the Region’s Dominant Retail Draw
Centre Place sits directly across Division Street from Crossroads Center, the only enclosed regional mall within a 45 mile radius. Crossroads draws roughly 4.5 million visitors a year and serves a trade area that extends well past St. Cloud to include Waite Park, Sartell, Sauk Rapids, and St. Joseph, an estimated 560,000 residents in total.
That kind of regional gravity is not something a competing center can build across town. It concentrates shopper traffic on one corridor, and Centre Place is on it.
Tenants Who Have Been Here for Decades
More than 80 percent of the building’s leasable area is occupied by tenants who have been at Centre Place for over ten years. The Post Office has operated here since 1998. Erbert and Gerbert’s opened in 2004, Sun Tan City in 2007, and Sleep Number in 2012.
Long tenure is the clearest signal a retail center can send. Businesses that renew for twenty years are renewing because the location works, and tenants at that depth carry high relocation costs and established local customer bases.
Full Occupancy With Built In Rent Growth
The center is 100 percent leased with no vacancy. Most leases are structured NNN with contractual annual rent escalations, so income steps up on a defined schedule rather than depending on new leasing activity. Smile Orthodontics recently committed to a term running through 2035 and invested significantly in its own build out, a strong indicator of long term intent.
A Corridor With Genuine Traffic
Division Street is the primary east to west retail corridor serving Central Minnesota, carrying 26,690 vehicles per day directly in front of the property. The adjacent MN Highway 15 corridor adds more than 33,000 vehicles per day. Two access points, one on Division and one on Waite Avenue S, make the site easy to enter and exit from either direction.
A Market That Keeps Growing
St. Cloud is the commercial hub of Central Minnesota, roughly 75 miles northwest of the Twin Cities. The city population is about 72,000, but daytime population swells past 250,000 as the region commutes in for work, healthcare, and shopping. The metro has grown at roughly 1 percent annually, driven by a diversified base of healthcare, education, manufacturing, and retail employment.
Area colleges and universities add roughly 23,000 full time students, which supports year round retail demand rather than seasonal spikes.
Tenant Roster
Centre Place is fully leased to six tenants across a mix of national retail, healthcare, food service, and government services.
| Tenant | Suite | Size | At Centre Place Since | Category |
| United States Postal Service | 140 | 4,110 SF | 1998 | Government services |
| Erbert and Gerbert’s | 135 | 1,982 SF | 2004 | Fast casual restaurant |
| Sun Tan City | 120 | 3,307 SF | 2007 | Tanning and wellness |
| Sleep Number | 110 | 3,212 SF | 2012 | National retail |
| Hajime Restaurant and Bar | 130 | 3,180 SF | 2017 | Full service restaurant |
| Smile Orthodontics | 100 | 3,075 SF | 2024 | Healthcare services |
| Total | 18,866 SF | 100% occupied | 6 tenants |
About the St. Cloud Trade Area
St. Cloud sits along the Mississippi River in Central Minnesota and functions as the regional center for a broad swath of the state. Interstate 94 runs along the south side of the river carrying between 37,000 and 43,000 vehicles per day through the metro, and U.S. Highway 10 runs along the northern bank.
The regional economy is anchored by healthcare, which accounts for roughly 23 percent of the workforce, followed by retail trade at 15 percent and manufacturing at 8 percent. CentraCare Health and St. Cloud Hospital are the largest employers in the area, alongside St. Cloud State University, New Flyer of America, and Coborn’s. In total the metro supports about 4,700 businesses and 84,300 employees.
| Trade Area | Population | Households | Avg. HH Income | Median Home Value |
| 5 mile | 108,526 | 44,546 | $83,180 | $278,392 |
| 10 mile | 140,400 | 54,946 | $92,599 | $308,307 |
| 20 mile | 206,591 | 80,524 | $99,371 | $338,277 |
Trade area demographics reflect 2025 estimates.
Frequently Asked Questions
Where is Centre Place located?
Centre Place is at 4170 West Division Street in St. Cloud, Minnesota 56301, on the southeast corner of the signalized intersection of Division Street and Waite Avenue S, directly across from Crossroads Center.
How large is Centre Place?
The center totals 18,866 square feet of gross leasable area on 1.49 acres, with approximately 85 dedicated parking stalls. It was built in 1996 as a single story unanchored retail strip center.
Who are the tenants at Centre Place?
Six tenants occupy the center: the United States Postal Service, Sleep Number, Smile Orthodontics, Sun Tan City, Hajime Restaurant and Bar, and Erbert and Gerbert’s. The property is 100 percent leased.
Who acquired Centre Place?
Inventure acquired the property in July 2026. Inventure is a St. Cloud based commercial real estate firm active in acquisitions, brokerage, owner’s representation, and development throughout Central Minnesota.
Is space available for lease at Centre Place?
The center is currently 100 percent occupied. Businesses interested in future availability can contact the Inventure leasing team to be notified when space comes to market.
Why is the Division Street corridor significant?
Division Street is the primary east to west retail artery serving the St. Cloud region, carrying 26,690 vehicles per day. It is home to Crossroads Center, the only enclosed regional mall within 45 miles, which draws approximately 4.5 million visitors annually from a trade area of more than 560,000 residents.
This announcement is for informational purposes only. It is not an offer to sell or a solicitation of an offer to buy any security or interest in any investment, and it does not constitute investment, tax, or legal advice.
