Starbucks/Heartland Dental - Lino Lakes, MN

Jones Lang LaSalle Americas, Inc. (“JLL”), is pleased to exclusively offer for sale the fee-simple interest in Starbucks/Heartland Dental (the “Property”) located at 601 Apollo Dr in Lino Lakes, MN. The newly constructed 6,440 SF retail asset is a target outlot and is 100% leased to two credit tenants. With each tenant signing a 10-year lease and opportunity for additional ATM income, the investment offers the unique opportunity to obtain steady cash flows from credit tenants in one Minneapolis' fastest-growing suburbs.

Both 10-year leases are directly signed with the parent corporations. Notably, these leases have 10 years of firm term, meaning that Starbucks' lease does not include the company's signature five-year early termination option, which is common in multi-tenant centers. Starbucks is publicly traded, boasts an investment-grade credit rating, and has over 35,000 locations worldwide. Heartland Dental is the gold standard of dental tenants, with over 1,700 dental offices supported across the U.S.

The property is an outlot to both Target and Kohl's. This strategic positioning and its visibility from Interstate 35W (43,000 VPD) drive traffic to the center. Additionally, the property is situated on a signalized corner and benefits from significant street frontage. The area is also more than able to support additional retail, evidenced by an average household income of over $135,000 within a three-mile radius.

Please see OM for more details.