Success Stories

Manna Capital acquired Fridley Corporate towards the end of 2024, the property had a 40% overall building vacancy. Securing the property at below land cost and substantially below replacement costs made this a strong candidate for value creation. After closing, a solid long-term tenant was immediately secured to occupy a majority of the available space, we also worked to improve the floorplan to secure additional tenants and fill the building to nearly full occupancy.

• Strategic Location: Positioned on a hard signalized corner with great traffic counts, and large 3.76 acre lot.
• Leasing Success: Secured high quality tenants, boosting occupancy rates to 95%.
• Sustainability Focus: Long term leases in place, with future redevelopment potential.

Manna Capital acquired College Center in the summer of 2025, the property consisted of main center, 2 outparcel buildings up front and large industrial building in the back. Securing the property at below replacement costs made this a strong candidate for value creation. The investment objective was to update the property with full new facade for the front of the building, extend leases and gradually increase rents to market value.

After closing Manna acted on multiple strategies at once, the first being the start of construction on the main building. During that same time also selling off one of the small outparcel buildings to a local investor, while simultaneosly signing a 10 year ground lease for a new construction 7Brew. 

Because of the lease extensions and selling of outparcel building, Manna was able to return 100% of investors initial investment back before the end of year 1, while investors still maintained ownership in the project. Distributions have remained consistent with the additional rental income from 7Brew. 

• Strategic Location: Great visibility and great traffic counts.
• Leasing Success: Extended leases with tenants and signed 10 year new construction 7Brew ground lease.
• Sustainability Focus: Long term leases in place, with future redevelopment potential.

Manna Capital acquired Sunnyside Shoppes as part of a 1031 exchange. The property was built and managed by a local real estate firm in the Madison area. At the time of acquisition the property had a large vacancy and also had the Men's Warehouse tenant paying a substantially reduced rent from Covid. Realizing this created incredible opportunity for value, the strategy of aggressively marketing the vacancy and leasing it quickly, along with negotiating increased market rents for Men's Warehouse put the property in a strong position. Once these deals were completed, along with negotiating lease extensions with other tenants the property was then put on the market and sold. The equity created in this deal was then rolled into a 1031 exchange for a larger 95,000 SF retail center in Minnesota.

• Strategic Location: Positioned on one of Madison's busiest retail corridors.
• Leasing Success: Secured high quality tenant, extended leases, and negotiated increased rents.
• Exit: 1031 Exchange into large retail center which has substantial value potential. 

Manna Capital acquired Denfeld Center in the fall 2020. Realizing there was ability to optimize rents, extend leases and reposition the property more strategically, ownership quickly implemented a plan that would accomplish this and increase the property value. Starting day one, 15% annual distributions were paid out every quarter and cost segregation was completed to provide additional depreciation for investors. 

• Strategic Location: Positioned on a hard signalized corner with great traffic counts.
• Leasing Success: Secured high quality tenants and increased rents substantially.
• Exit: Sold in 2024, with a Total IRR of 28% achieved over 4 year hold period. 

This 3 tenant retail center with drive-thru was located on a high traffic lighted intersection on University Ave in Fridley, MN. Property exterior was updated substantially after acquisition. The property was sold after 3 years and yielded an annual IRR of 26% over the hold period.

• Strategic Site: Lighted hard corner intersection with great traffic counts.
• Plan Executed: New roof, awnings, paint, parking, and landscaping, signed new long term leases.
• Exit: Sold after 3 year hold period.

Manna Capital acquired this Dollar Tree property from a highly motivated seller with short lease term remaining. A lease extension with higher rent was quickly negotiated with tenant. This extension along with other strategic steps increased the value. The property was later sold at a substantial profit and the equity was used to purchase another property as part of 1031 Exchange.

• Purchase strategy: Motivated seller with short lease remaining.
• Leasing Success: Secured long term lease extension with higher rents.
• Exit: Sold and completed 1031 exchange into another value-add property. 

This industrial condo in Brooklyn Park, MN was acquired with a solid credit tenant in place. During the hold period a rent extension with rent increase was negotiated with the tenant. The property was sold less than two years later yielding a ROI of 310% and IRR of 72% over the hold period.

• Strategic Site: Property had central location with kitchen buildout for tenants multiple locations.
• Leasing Success: Extended leases, and negotiated increased rents.
• Exit: 1031 Exchange into high yielding ground level business park. 

We invest in many different property types, including multi-tenant retail, industrial, and office properties across Minnesota and throughout the Upper Midwest. Seeking opportunities to add value and create lasting success. Our portfolio reflects our commitment to continued growth and strategic investment.

Manna Capital is a Minnesota-based investment firm specializing in commercial real estate. With decades of combined experience, we take a hands-on approach to property acquisition, management, and value creation. Our partnerships with industry professionals help us deliver long-term success for tenants, lenders, and stakeholders.