In just five years, a Sioux Falls investment group has purchased six prime Phillips Avenue properties downtown.

It started with the purchase of the historic Beach Pay building in 2017, now Cresten Capital owns the rest of block.

“We just closed within the last 60 days on the Pave/Lewis/Sanford building,” Cresten Capital Partner Erica Mullaly said.

From The Hello Hi to 10th Street, Cresten Capital is now the landlord for even more popular downtown destinations. Part of the company’s aggressive acquisitions along Phillips Avenue.

“We want to see downtown continue to thrive and I think by doing that you have to have good property owners so when the opportunity arises to purchase or expand our portfolio, we’re going to look really hard at it,” Mullaly said.

The Pave/Lewis building is just the latest Phillips Avenue purchase for Cresten Capital. The company has made several other significant investments downtown in just one year.

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