Superior Shores in Two Harbors Sold for $15 Million
A popular getaway on the North Shore has been sold to an owner who already owns another popular Minnesota resort.
Minneapolis/St.Paul Business Journal is reporting that Superior Shores in Two Harbors has been sold for just under $15 million to North Shore Resort Co., the same firm that bought Lutsen Resort in 2018.
According to their report:
The seller is Joe Re, who has owned the resort for about 30 years. His daughter and son in-law, Jenna and Chris Pederson, had been running it for the last several years, said Frank Jermusek, the advisor who represented Re on the sale. The Pedersons have already moved to the Whitefish chain of lakes, where they are managing the Clamshell Beach resort in Pequot Lakes for a new owner.
North Shore Resort Co. is owned by Bryce Campbell and his mother, Sheila, who also own hotels in their home of Ontario. Bryce is expected to move to Minnesota to manager their properties in the state, while Sheila stays in Canada to manage their other properties.
Superior Shores, sitting on 30-acres which includes 4,100 feet of Lake Superior shoreline, has roughly 184 units spread between the lodge, lake homes and the Burlington Bay condo development just south. With the sale, 131 of those units were included while the others are owned separately.
Superior Shores also has four pools and a 280-person event center.