Retail

Golf Galaxy & Central + Priority Pediatrics - Roseville

2436-2440 Cleveland Ave, Roseville, MN, 55113, US

Golf Galaxy & Central + Priority Pediatrics - Roseville_Property for Sale

Gallery

Golf Galaxy & Central + Priority Pediatrics - Roseville 2_Property for Sale

Asset Description

Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to exclusively offer for sale the fee-simple interest in Golf Galaxy & Central + Priority Pediatrics. This dual-tenant property features Golf Galaxy, a subsidiary of Dick's Sporting Goods, and Central + Priority Pediatrics, which has been serving the Twin Cities for over 75 years. Golf Galaxy has recently signed a three year extension which features a full corporate guarantee from Dick's Sporting Goods (S&P: BBB).

The property is situated within a retail-dense submarket of Roseville, located in the Minneapolis - Saint Paul MSA. The area also boasts an affluent consumer base and high population density. This triple net investment presents a unique opportunity to obtain a strong income stream from an investment secured by a credit tenant and a medical office tenant.

Attributes

Asking Price

SEK 59,905,000

Building area gross

2,787 m²

Occupancy

100.00%

Year built

1997

Cap Rate

7.25%

NOI

SEK 4,344,000

Investment Highlights

INFILL RETAIL IN HIGHLY DEMANDED SUBMARKET OF ROSEVILLE

Roseville is a retail hub for the Twin Cities, and the immediate area surrounding the property is particularly in demand by retailers
Rosedale Center, the mall across the street from the property, and nearby centers feature numerous national retailers such as an Apple store, Walmart, Target, Total Wine, and a soon to be delivered Shake Shack

DICK'S SPORTING GOODS CORPORATE GUARANTY

Dick's Sporting Goods, Inc. (NYSE: DKS), boasting an investment-grade credit rating (S&P: BBB), fully guarantees Golf Galaxy's lease
Golf Galaxy, a subsidiary of Dick's Sporting Goods, has a national presence with nearly 100 locations across the United States

MEDICAL OFFICE TENANT WITH DECADES OF OPERATING SUCCESS

Central + Priority Pediatrics has been serving the Twin Cities for over 75 years
This medical office aspect to the property diversifies the investment, lowering the risk profile

CLOSE PROXIMITY TO ARTERIAL ROADWAYS

The site is located directly adjacent to the junction of two of Minnesota's most highly traveled thoroughfares: I-35W and MN-36
The property is easily visible from I-35W and is accessible from both roadways by nearby exits