Les Schwab - Otsego, MN_Propiedad en venta

8690 Parkview Ave NE, Otsego, MN, 55330, US

Les Schwab - Otsego, MN

Descripción del activo

Jones Lang LaSalle Americas, Inc. (“JLL”), is pleased to exclusively offer for sale the fee-simple interest in Les Schwab located on the southwest corner of 87th St and Parrish Ave in Otsego, MN, within the Twin Cities MSA. The single tenant asset is secured by a corporate guarantee on a 20-year ground lease, which leaves no responsibilities for the landlord. The ground lease commences in March of 2025, and Les Schwab will be constructing the building according to their specifications.

Les Schwab is the 4th largest independent tire dealer in the country and has a nationwide presence with their 500+ locations, providing a strong credit base to the investment. The 2.26 acre site is strategically situated on the signalized intersection of 87th St and Parrish Ave. This intersection is shared by Target and a newly-developed Aldi, which both drive heavy traffic to the area. The site also benefits from its proximity to MN-101, which is the primary thoroughfare serving Otsego and carries approximately 52,000 VPD. Within a three-mile radius, the average household income is higher than the national average, and in the last five years the population has grown at a rate higher than the national average.

Please see OM for more information.

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Atributos

Precio de venta

2.258.000 €

Tasa de capitalización

5,15 %

Área de construcción neta

988 m²

Área de terreno bruta

0,91 ha

Ocupación

100 %

Año de construcción

2025

Medios

Aspectos destacados de la inversión

20-YEAR GROUND LEASE WITH NO LANDLORD RESPONSIBILITIES

• Les Schwab signed a 20-year ground lease, which commences in March 2025

• The lease specifies that all tax and maintenance responsibilities lie with the tenant

TARGET AND GROCERY SHADOW ANCHOR

• The property shares an intersection with Target and a newly-developed Aldi

• This Target store has 1.6 million visits annually, which is an above-average number of visits compared to other Target stores within the state of Minnesota

NEW CONSTRUCTION

• The pad will be delivered in early 2025 and Les Schwab will construct a brand-new building

• The immediate surrounding area is seeing additional residential and retail construction, illustrating the momentum of the submarket

CORPORATE GUARANTEE BACKED BY NATIONAL BRAND

• The lease features a corporate guarantee and landlord-friendly assignment language

• Les Schwab is the 4th largest independent tire dealer in the country and has over 500+ locations nationwide