Home Depot - Brooklyn Park, MN_Property for Sale
Home Depot - Brooklyn Park, MN_Property for Sale
6701 Boone Ave N, Brooklyn Park, MN, 55428, US

Home Depot - Brooklyn Park, MN

Asset Description

Jones Lang LaSalle Americas, Inc. (“JLL”), is pleased to exclusively offer for sale the fee-simple interest in Home Depot (the “Property”) located at 6701 Boone Ave N, Brooklyn Park, MN 55428. The 9.55 acre site is ground leased directly with Home Depot, Inc. The 115,227 SF building is a build-to-suit that was constructed in 1996. There is nearly 4 years of term remaining on the lease, which also includes three five-year extension options.


Home Depot, Inc. (NYSE: HD), which boasts an investment-grade credit rating and had over $154 billion in revenue in 2022, is a global leader in the home improvement retail industry, offering a wide range of building materials, tools, and home improvement products. Founded in 1978 and headquartered in Atlanta, Georgia, Home Depot operates a vast network of over 2,300 stores across North America. The Property has an excellent history of operations and renewals, and the location is in the top half of Home Depot stores across Minnesota.


The Property is ideally situated on the hard corner of I-94 and Boone Ave and is highly visible from both roadways. The site is also directly adjacent to the I-94/US-169 interchange; I-94 carries over 104,000 vehicles per day in the area and US-169 carries 83,000. Within a five-mile radius, there are nearly a quarter-million residents and the average household income is over $117,000.

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Attributes

Building area Gross
10,705 m²
Occupancy
100.00%
Year built
1996
NOI
€1,468,000

Media

Investment Highlights

SINGLE TENANT GROUND LEASE OPPORTUNITY WITH INVESTMENT-GRADE TENANT

• The property is leased directly with Home Depot, Inc., which has an investment-grade credit rating of A (S&P)

• The ground lease structure of the lease leaves the Landlord with minimal responsibilities, providing for an ideal passive-income opportunity


EXCELLENT HISTORY OF OPERATIONS AND RENEWALS

• The Brooklyn Park location has been open and operating for nearly 30 years and has extended their lease on two occasions

• This location ranks in the upper half of all Home Depots in the State of Minnesota


HARD CORNER SITE WITH HIGH VISIBILITY

• The property is ideally situated on the hard corner of I-94 and Boone Ave

• The property is highly visible from both roadways and has easy access from Boone Ave


DENSE AND AFFLUENT DEMOGRAPHICS

• Within a five-mile radius, there are nearly a quarter-million residents

• Within the same radius, the average household income is an impressive $117,000 and is projected to grow at a steady rate over the next five years

Home Depot - Brooklyn Park, MN 4_Property for Sale

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Home Depot - Brooklyn Park, MN (0 Properties)

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Last updated
12 Sep 2023