Shops of Elk River

VALUE ADD STRIP CENTER WITH GROCERY SHADOW ANCHOR

• This multi-tenant strip center is 82% occupied and provides ample opportunity for value creation

• Cub Foods, the largest grocer in Minnesota, is the anchor for the greater center

IDEALLY SITUATED NEAR ARTERIAL ROADWAY

• The property sits directly off of US-169, the primary north- south thoroughfare serving Elk River

• US-169 carries over 36,000 vehicles per day in the area

DIVERSE TENANT MIX WITH STRONG HISTORICAL OCCUPANCY

• The property benefits from a healthy tenant mix ranging from medical office and government to health club and quick service retail

• The rent roll hasn’t changed much over the years, with the average tenant having been in-place for over 17 years

AFFLUENT DEMOGRAPHICS SUPPORTED BY NEW DEVELOPMENT

• Within a three mile radius of the property, there are over 25,000 residents, which have an average household income of over $115,000

• The surrounding area is full of both residential and commercial development along with upgrades to major roadways