Trader Joe's

4500 Excelsior Boulevard, St. Louis Park, MN, 55416, US

Description

Jones Lang LaSalle Americas, Inc. ("JLL"), is pleased to exclusively offer for sale the fee-simple interest in Trader Joe's located at 4500 and 4590 Excelsior Blvd in St. Louis Park, Minnesota. The 13,740 SF building will be leased through January 2032 with four additional 5-year renewal options extending potential occupancy through 2052.

Trader Joe's is one of fewer than 640 locations in America and has been continuously operated at this site since January 2005, demonstrating over 20 years of uninterrupted occupancy and strong operational performance. The property sits on a hard corner at the signalized intersection of Excelsior Blvd & Monterey Dr, with 20,250 VPD on Excelsior, and benefits from proximity to Highway 100, which carries 116,000 VPD. The site is strategically positioned within one of the Twin Cities' most retailer-dense corridors, with immediate neighbors including Target, LA Fitness, CVS, Chase Bank, Chipotle, and Starbucks.

In the surrounding area, the property is directly beneath the Excelsior & Grand Condominiums and surrounded by multiple multifamily complexes, creating a captive, walkable customer base. Within a 3-mile radius, average household income exceeds $150,000, nearly 30% higher than the national average, and 66% of adults in SLP hold a bachelor's or graduate degree. St. Louis Park has experienced nearly 10% population growth since 2010.

Please see OM for more information.

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Attributes

Asking price

¥1,175,246,000

Cap rate

5.3%

Building area net

1,276 sm

Remaining lease term

6 years

Year built

2005

Parking spaces

Media

Investment highlights

ESTABLISHED TENANT WITH SECURE INCOME STREAM

Trader Joe's recently executed a 5-year lease extension running through January 2032, with four additional 5-year renewal options
This location has been continuously operated by Trader Joe's since January 2005, demonstrating over 20 years of uninterrupted occupancy

PROXIMITY TO MAJOR RETAILERS AND RESIDENTIAL BASE

Situated within one of the Twin Cities' most supply-constrained and retailer-dense trade corridors
Located directly beneath and adjacent to the Excelsior & Grand Condominiums and surrounded by multiple multifamily complexes

PRIME LOCATION WITH TRAFFIC FLOW AND ACCESSIBILITY

Hard corner location at the signalized intersection of Excelsior Blvd & Monterey Dr, with 20,250 VPD on Excelsior Blvd
Premier street-level frontage with maximum brand visibility along one of St. Louis Park's primary commercial corridors
Located just a half-mile from Highway 100, one of the primary arterials in the Minneapolis MSA carrying 116,000 VPD

EXCEPTIONAL DEMOGRAPHICS IN HIGH-GROWTH SUBMARKET

Within a 3-mile radius, average household income is over $150,000, nearly 30% higher than the national average
St. Louis Park boasts a population of nearly 50,000 with almost 10% growth since 2010
66% of adults in St. Louis Park hold a bachelor's or graduate degree, one of the most highly educated trade areas in the Minneapolis MSA