Starbucks/Heartland Dental - Lino Lakes, MN_Imóvel à venda
Starbucks/Heartland Dental - Lino Lakes, MN_Imóvel à venda
601 Apollo Dr, Lino Lakes, MN, 55014, US

Starbucks/Heartland Dental - Lino Lakes, MN

Descrição do ativo

Jones Lang LaSalle Americas, Inc. (“JLL”), is pleased to exclusively offer for sale the fee-simple interest in Starbucks/Heartland Dental (the “Property”) located at 601 Apollo Dr in Lino Lakes, MN. The newly constructed 6,440 SF retail asset is a target outlot and is 100% leased to two credit tenants. With 10 years of term on each of the tenants' leases and opportunity for additional ATM income, this investment offers the unique opportunity to obtain steady cash flows from credit tenants in one Minneapolis' fastest-growing suburbs.


Both 10-year leases are directly signed with the parent corporations. Notably, these leases have 10 years of firm term, meaning that Starbucks' lease does not include the company's signature five-year early termination option, which is common in multi-tenant centers. Starbucks is publicly traded, boasts an investment-grade credit rating, and has over 31,000 locations worldwide. Heartland Dental is the gold standard of dental tenants, with over 1,700 dental offices supported across the U.S.


The property is an outlot to both Target and Kohl's. This strategic positioning and its visibility from Interstate 35W (39,000 VPD) are sure to drive traffic to the center. Additionally, the property is situated on a signalized corner and benefits from significant street frontage. The area is also more than able to support additional retail, evidenced by an average household income of over $142,000 within a three-mile radius.


Please see OM for more details.

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Atributos

Preço pedido
€ 4.564.000
Taxa de capitalização
6,15%
Área de construção bruta
598 m²
Área de terreno bruta
0,53 ha
Ocupação
100%
Ano de construção
2023

Mídia

Destaques do investimento

NEW CONSTRUCTION WITH 10 YEAR NNN LEASES AND VALUE-ADD COMPONENT

• Both Starbucks and Heartland Dental are on net leases with 10 years of term and built-in rent escalations

• The property has potential for an on-site ATM, which could add thousands of dollars of annual income to the center

• The building is brand new construction with high-quality materials and distinct design elements


CORPORATE LEASES WITH CREDIT TENANTS

• The leases are directly with Starbucks Corporation and Heartland Dental, LCC

• Starbucks is publicly traded, boasts an investment- grade credit rating, and has over 31,000 locations worldwide

• Heartland Dental is the gold standard of dental tenants, with over 1,700 dental offices supported across the U.S


TARGET OUTLOT IN HIGH TRAFFIC AREA

• The property is situated directly adjacent to a Target and a Kohl's, both of which will drive traffic to the center

• The greater center is highly visible from I-35W, which carries nearly 39,000 vehicles per day (VPD) in the area


SIGNALIZED HARD CORNER

• The site is located on the signalized corner of Lake Dr (19k+ VPD) and Apollo Dr (8k+ VPD)

• The property benefits from a clear, unobstructed view from both roadways and significant street frontage


AFFLUENT DEMOGRAPHICS WITH STEADY POPULATION GROWTH

• Within a three-mile radius, the average household income is over $142,000

• Within the same radius and within the greater Lino Lakes area, there has been steady population growth over the last five years

Contactar corretores

Starbucks/Heartland Dental - Lino Lakes, MN (0 Propriedades)
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Última atualização
May 16, 2024