Caribou Coffee - Zimmerman, MN

Jones Lang LaSalle Americas, Inc. (“JLL”), is pleased to exclusively offer for sale the fee-simple interest in Caribou Coffee located at 12495 5th Ave N in Zimmerman, MN, within the Minneapolis-St. Paul metro. This newly constructed build-to-suit asset is 100% leased to Caribou Coffee corporate. The 554 SF building sits on .33 acres of land and features Caribou Coffee's new “Cabin” concept, which is a drive-thru and walk-up only format. The tenant signed a 10-year NNN lease, which features 10% rent escalations every five years and commenced in December of 2022, leaving over 8 years remaining.

Caribou Coffee is the market-dominant coffee chain in Minnesota, with more locations than Starbucks and Dunkin' Donuts combined. With over 770 locations across the globe, Caribou Coffee is quickly increasing their share of the coffee market. Caribou Coffee is part of a portfolio of complementary brands bound by common values, Panera Brands, comprised of Panera Bread®, Caribou Coffee® and Bagel Brands.

The property is located on the corner of and is highly visible from 5th Ave N and US-169, the latter of which is the primary north-south arterial thoroughfare serving Zimmerman. The site is ideally situated with a grocer immediately to the south and 128 units of newly developed luxury apartments the the north. In additional to its proximity to major roadways and traffic drivers, the asset is also supported by an affluent consumer base. Within a three-mile radius, the average household income is $124,000, 16% higher than the national average.

Please see OM for more info.