Champlin Station_Property for Sale
Champlin Station_Property for Sale
11565 Theatre Dr N, Champlin, MN, 55316, US

Champlin Station

Asset Description

Jones Lang LaSalle Americas, Inc. (“JLL”), is pleased to exclusively offer for sale the fee-simple interest in Champlin Station located at 11565 Theatre Dr N, Champlin, MN 55316. The multi-tenant property is 100% leased to six tenants. The 17,115 SF building was constructed in 2006 and sits on 2.22 acres of land. The property sits directly adjacent to a 1.78 acre lot, which is available for purchase as part of the deal or as a separate agreement.


The rent roll consists of a diverse tenant mix ranging from drive-thru coffee to medical. At an average per square foot rent rate of just under $14, the property offers value-add opportunity through rent growth. With three new leases signed in 2024, the center has shown extremely strong leasing momentum that has brought the WALT for the center to 6.9 years.


The site is ideally situated off of and is visible from US-169, the primary north-south roadway serving Champlin. The highway carries 39,000+ VPD in the area and links the city to Minneapolis and other arterial roadways. Within a three-mile radius of the property, the average household income is $122k, 14% higher than the national average. Within the same radius, both population and incomes have steadily grown over the past five years. The property also benefits from being within the Minneapolis Saint-Paul metro, which has the most educated population in the Midwest and has the most Fortune 500 HQs per capita of any major metro area


Please see OM for more information.

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Attributes

Asking price
HK$24,790,000
Cap rate
7.5%
Building area gross
17,115 sf
Land area gross
2.22 acres
Occupancy
100%
WALT
6.9 years
Year built
2006

Media

Investment Highlights

FULLY OCCUPIED UNANCHORED STRIP CENTER WITH NEARLY SEVEN YEARS OF WALT

• The center is 100% occupied by six tenants that are all on NNN leases

• With three new leases signed in 2024, the WALT for the center is an impressive 6.9 years


VISIBILITY FROM ARTERIAL ROADWAY

• The property is visible from US-169, which carries 39,000+ VPD in the area

• US-169 is the primary north-south roadway serving Champlin and links the city to I-94, I-394, and I-494


RETAIL CORRIDOR WITH TRAFFIC DRIVERS

• The property is located adjacent to several retail drivers including an ALDI

• Within the immediate area there are numerous other traffic drivers including Target and Cub Foods


AFFLUENT DEMOGRAPHICS WITH STABLE GROWTH

• Within a three-mile radius, the average household income is $122k, 14% higher than the national average

• Within the same radius, both population and income have steadily grown over the past five years

Champlin Station 4_Property for Sale
Champlin Station 4_Property for Sale

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Champlin Station (0 Properties)

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Last updated
11 Jul 2024