Northpark Village
US - Lubbock, TX
NZ$16,184,000 | 6,548 m²
Retail
Caribou Coffee - Zimmerman
26319 2nd St E Ste E, Zimmerman, MN, 55398-6501, US
Gallery
Asset Description
Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to exclusively offer for sale the fee-simple interest in a newly developed, single-tenant Caribou Coffee in Zimmerman, MN, located within the Minneapolis-St. Paul MSA. Caribou Coffee, which has more locations in Minnesota than Starbucks and Dunkin Donuts combined, is the dominant coffee chain in the state. This triple net investment presents a unique opportunity to obtain steady, reliable cash flows from a high-quality tenant.
Attributes
Asking Price
NZ$2,526,000
Building area Gross
51 m²
Occupancy
100.00%
Year built
2022
Cap Rate
5.75%
NOI
NZ$146,000
Investment Highlights
INNOVATIVE CARIBOU “CABIN” CONCEPT
This site features Caribou Coffee’s new “Cabin” concept, a drive-up and walk-up only format. This innovative building design minimizes the company use of real estate and maximizes efficiency in service, reducing costs and increasing profitability
MARKET-DOMINANT COFFEE CHAIN
Caribou Coffee is the dominant coffee chain in Minnesota with more locations in the state than Starbucks and Dunkin’ Donuts combined
NEW 10 YEAR LEASE WITH 10% BUMPS
Caribou recently signed a 10 year lease. The lease features 10% rent bumps every 5 years, increases which continue through the option periods
NEW CONSTRUCTION
The building is newly constructed according to Caribou Coffee’s specifications. The recent construction reduces future costs of potential capital expenditures
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Last updated
25 Jan 2023