Goodwill - Saint Louis Park, MN_Property for Sale

3575 MN-100, Saint Louis Park, MN, 55416, US

Goodwill - Saint Louis Park, MN

Asset Description

Jones Lang LaSalle Americas, Inc. (“JLL”), is pleased to exclusively offer for sale the fee-simple interest in Goodwill (the “Property”) located at 3575 MN-100 in Saint Louis Park, MN. This 17,636 SF build-to-suit retail building is located directly across the street from Target and is surrounded by new multi-family development. Goodwill recently signed a 10-year extension, bringing the total remaining term to 11 years and signaling the tenant's commitment to this location.

The tenant, Goodwill Easter-Seals Minnesota (GESMN), is a 501(c)3 nonprofit that offers job training and customized career support to eliminate barriers to work and independence. GESMN has been operating since its founding in 1919 and had over $116 million in revenue in 2021. With over 2,000 employees and 45 retail locations, GESMN is an established, well respected organization within the state.

The property is ideally situated directly across the street from Target and is nearby several other traffic drivers such as Lunds & Byerlys and Burlington. Within walking distance, there has been multiple luxury apartments constructed in the last decade, most notably, the 2023 deliveries of Risor (250 units) and Corsa (170 units). The property also benefits from its strategic positioning along MN-100, which carries an impressive 127,000 VPD in the area. Within a three mile radius, the average household income is over $152,000 and is projected to grow at an annual rate of 2.4%.

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Attributes

Asking price

SGD 7,019,000

Building area gross

1,638 m²

Occupancy

100%

Year built

2013

Cap rate

6.35%

NOI

SGD 446,000

Media

Investment Highlights

SINGLE TENANT NET LEASE WITH 11 YEARS REMAINING

• The property is occupied by a single tenant on a net lease, minimizing landlord responsibilities.

• The tenant has recently signed to a 10-year extension, securing cash flows for the property for years to come and signaling commitment to the site

ESTABLISHED ORGANIZATION WITH INTERNATIONAL BRAND

• Goodwill Easter-Seals Minnesota has been operating since its founding in 1919 and had over $116 million in revenue in 2021

• The organization employs over 2,000 people and handled 75 million donated items last year through their 45 local retail stores, 3 outlets, e-commerce, and aftermarket operations

COMMERCIAL CORRIDOR INCLUDING TARGET AND HUNDREDS OF UNITS OF APARTMENT DELIVERIES THIS YEAR

• The property is ideally situated directly across the street from Target and is nearby several other traffic drivers such as Lunds & Byerlys and Burlington

• Within walking distance, there has been multiple luxury apartments constructed in the last decade, most notably, the 2023 deliveries of Risor (250 units) and Corsa (170 units)

PROXIMITY TO MAJOR ROADWAYS

• The property is located on MN-100, which carries an impressive 127,000 vehicles per day (VPD) and is a major arterial roadway for the Twin Cities

• The property also benefits to its proximity to MN-7, which carries about 22,000 VPD in the area

AFFLUENT AND DENSE DEMOGRAPHICS

• Within a three mile radius, the average household income is over $152,000 and is projected to grow at an annual rate of 2.4%

• Within the same radius, there are nearly 130,000 people, and 71.3% of the population holds a bachelor's degree or higher