Retail
Under Contract

Caribou Cabin - Columbus/Forest Lake

15561 Hornsby St Ne, Columbus, MN, 55025, US

Caribou Cabin - Columbus/Forest Lake_Property for Sale

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Asset description

Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to exclusively offer for sale the fee-simple interest in a Caribou Coffee located in the Columbus, Minnesota. Caribou Coffee is the dominant coffee chain in Minnesota, with a history of sustained growth and plans for future expansion. The building is new construction built-to-suit according to Caribou's specifications. This triple net investment presents a unique opportunity to obtain steady, reliable cash flows from while having minimal management responsibilities with the net lease structure.

Attributes

Asking Price
$1,648,000
Building area gross
605 sf
Occupancy
100.00%
Year built
2022

Investment highlights

INNOVATIVE CARIBOU “CABIN” CONCEPT 

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


MARKET-DOMINANT COFFEE CHAIN

Caribou Coffee is the dominant coffee chain in Minnesota with more locations in the state than Starbucks and Dunkin’ Donuts combined


NEW 10 YEAR LEASE WITH 10% BUMPS

Caribou recently signed a 10 year lease. The lease features 10% rent bumps every 5 years, increases which continue through the option periods


NEW CONSTRUCTION

The building is newly constructed according to Caribou Coffee’s specifications. The recent construction reduces future costs of potential capital expenditures


HIGH TRAFFIC CORRIDOR ALONG I-35

The property is located directly off of I-35, which carries nearly 68,000 vehicles per day in the area

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Last updated
Nov 30, 2022