Caribou Coffee - Chippewa Falls, WI_Property for Sale
Caribou Coffee - Chippewa Falls, WI_Property for Sale
1033 Chippewa Crossing Blvd, Chippewa Falls, WI, 54729, US

Caribou Coffee - Chippewa Falls, WI

Asset Description

Jones Lang LaSalle Americas, Inc. (“JLL”), is pleased to exclusively offer for sale the fee-simple interest in Caribou Coffee (the “Property”) located at 1033 Chippewa Crossing Blvd in Chippewa Falls, WI. This newly constructed build-to-suit asset is 100% leased to Caribou Coffee corporate. The 554 SF building sits on 1.0 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 12-year NNN lease, which features 10% rent escalations every five years and commenced in December of 2023.


Caribou Coffee has a major presence in the Upper Midwest with over 350 locations across Minnesota and Wisconsin. 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.


This grocery-anchored property is an outparcel to a newly developed Festival Foods, one of the largest grocery chains in Wisconsin. Several other traffic drivers are in development within the center and several more are planned. The property is ideally situated on the signalized corner of WI-29 BUS and Chippewa Crossing Blvd. WI-29 BUS connects two of Chippewa Falls’ busiest roadways, WI-29 and WI-124, which carry 25,700 and 12,200 vehicles per day in the area, respectively.


Please see OM for more info.

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Attributes

Asking price
SEK 19,934,000
Cap rate
6.5%
Building area gross
51 m²
Occupancy
100%
Year built
2023
Land area gross
0.40 ha
NOI
SEK 1,296,000
WAULT
12 years

Media

Investment Highlights

NEW 12 YEAR NNN LEASE WITH 10% BUMPS

  • Caribou recently signed a 12 year NNN lease, which leaves minimal responsibilities for the Landlord
  • The lease features 10% rent bumps every five years, increases which continue through the option periods


GROCERY ANCHORED DEVELOPMENT

  • The property is an outlot to a newly developed Festival Foods, one of Wisconsin's largest grocery chains
  • Several other traffic drivers are also in development within the greater shopping center


INNOVATIVE CARIBOU “CABIN” CONCEPT

  • This site features Caribou Coffee’s new “Cabin” concept, which is a drive-thru and walk-up only design
  • This innovative building format minimizes the company's use of real estate and maximizes efficiency in service, reducing costs and increasing profitability


MARKET-DOMINANT COFFEE CHAIN

  • Caribou Coffee has over 700 locations and a major presence in the Upper Midwest with over 350 locations across Minnesota and Wisconsin
  • Caribou Coffee is a subsidiary of Panera Brands, which includes other well-known, successful companies such as Panera Bread and Einstein Bros. Bagels
Caribou Coffee - Chippewa Falls, WI 4_Property for Sale

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Last updated
29 Feb 2024