Suburban World has a new owner

A Florida-based investment group has closed on the purchase of Suburban World and is talking to potential tenants.

The shuttered site at 3022 Hennepin Ave. was previously owned by Commerce Bank.

“We’re going ahead, it just took a while with the bank,” said project architect Dean Dovolis of DJR Architecture. “So far, so good.”

Elion Partners has hired CBRE Minneapolis to market the site to retailers and restaurants, searching for a single tenant of 2,500-6,229 square feet.