A beloved mid-century strip mall in the heart of Golden Valley is about to receive a fresh new chapter. Paster Properties, the Minneapolis-based developer known for revitalizing the Texa-Tonka Shopping Center in St. Louis Park, has acquired the Golden Valley Shopping Center for $17.5 million. The company has already announced plans to update and re-energize the center with modern amenities, fresh landscaping, and a renewed focus on food and beverage tenants.
Located at 7900 Olson Memorial Highway, the Golden Valley Shopping Center was originally built in 1953 and spans 8.8 acres. It includes four buildings and a mix of current tenants like Ace Hardware, New Bohemia, Down In The Valley, and Jimmy John’s. The former Mort’s Deli space—vacant since 2022—is among the spots Paster hopes to fill as part of the center’s rebirth.
This project mirrors the developer’s approach at Texa-Tonka, where they restored the shopping center’s mid-century design and successfully drew in trendy food and retail spots. Now, with architectural help from Minneapolis-based Underhill Architects and leasing support from CBRE, Paster is setting the stage for a similar transformation in Golden Valley.
The shopping center is currently about 80% occupied. While it’s too early to say which tenants may stay or go, Paster has expressed a desire to collaborate with the city and local community to ensure the center reflects the neighborhood’s evolving needs.
Downtown Golden Valley is already experiencing new investment, including a 303-unit apartment project under construction just northwest of the center. Combined with Paster’s renovation, this area is poised for exciting growth in the coming years.
For updates on the renovation timeline and new business announcements, follow @darintheminnesotan on Instagram and stay tuned for more Minnesota development news!
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