Bank of America - Roseville
1761 County Road C W, Roseville, MN, 55113-1322, US
2 414 000 € | 381 m²
Description de l'actif
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.
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Caractéristiques de l'actif
Prix attendu
4 416 000 €
Taux de capitalisation
6,15 %
Surface de l'actif brut
598 m²
Taille du terrain Brut
0,53 hectare
Occupation
100 %
WALT
9 années
Année de construction
2023
Média
Points clés d'investissement
NEW CONSTRUCTION WITH 10-YEAR NNN LEASES AND A DRIVE-THRU
• Starbucks and Blue Heron Dental Care, who is backed by Heartland Dental, signed 10-year leases, which both include built-in rent escalations every five years
• The building is a newly constructed build-to-suit and features a drive-thru for the Starbucks space
CORPORATE LEASES WITH CREDIT TENANTS
• The leases are directly with Starbucks Corporation and Heartland Dental, LLC
• 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 U.S. offices supported
TARGET OUTLOT IN HIGH TRAFFIC AREA
• The property is situated directly adjacent to a Target and a Kohl's, which together drive approximately 1.7 million visits to the center annually
• The center is highly accessible from I-35W, which carries over 43,000 vehicles per day (VPD) in the area
SIGNALIZED HARD CORNER
• The site is strategically located Located on the signalized corner of Lake Dr (11k+ VPD) and Apollo Dr (8k+ VPD)
• The property benefits from significant street frontage and multiple points of access, providing ease and convenience for customers
Contacter l'équipe
Starbucks/Heartland Dental - Lino Lakes, MN (0 actifs)
JLL peut vous accompagner dans le financement et la gestion de votre portefeuille. Contactez-nous pour découvrir comment nous pouvons vous aider.
Dernière mise à jour
7 mai 2025
