Retail

Crosscreek Shoppes

748-810 Lake St E, Wayzata, MN, 55391-1713, US

Crosscreek Shoppes_Property for Sale

Gallery

Crosscreek Shoppes 2_Property for Sale

Asset description

Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to exclusively offer for sale the fee-simple interest in Crosscreek Shoppes, a multi-tenant retail property located in Wayzata, just minutes from downtown Minneapolis. The property is situated in close proximity to the famous Lake Minnetonka in a retail and tourism hotspot. The investment benefits from being on a high-traffic corner in an extremely affluent part of the Twin Cities metro. 

Attributes

Asking Price
$8,868,000
Building area gross
26,065 sf
Occupancy
100.00%
Year built
1968

Investment highlights

LOCATED ON THE SHORES OF THE FAMOUS LAKE MINNETONKA

• Immediately behind the property is Lake Minnetonka, the most popular recreational lake in Minnesota

• Lake Minnetonka attracts both residents and tourists for activities such as boating and swimming in the summer and ice skating and snowmobiling in the winter

 DENSE & AFFLUENT DEMOGRAPHICS

• The average household income within a 3-mile radius is an impressive $165,000 with over $100,000 in average disposable income

• The area around Lake Minnetonka is highly demanded, so affluent residents and visitors abound

 DIVERSIFIED TENANT BASE

• Mainly consisting of retail tenants, the rent roll also includes a residential space and office spaces

• This diverse tenant base reduces risk by exposing the investment to a variety of sectors

 RETAIL & TOURISM CORRIDOR

• The property is located directly on Lake St, an iconic shopping and tourism corridor in Wayzata

• In addition to being in a retail hotspot, the property is also within walking distance of the Wayzata Yacht Club and Wayzata Beach

 EASILY ACCESSIBLE FROM US HIGHWAY 12

• The building is located less than a mile from US-12 (60,000 VPD)

• US-12 is a primary thoroughfare linking the Twin Cities to the western suburbs

 TWIN CITIES METROPOLITAN SUPPORT

• The property is located within the Minneapolis-St. Paul MSA just 20 minutes from Minneapolis' CBD

• The site benefits from its proximity to the metro without having increases costs associated with downtown prices

Crosscreek Shoppes 4_Property for Sale

Contact brokers

Similar properties

View moreChevron Right
Do you have any questions? Visit our FAQ page
View FAQ PageArrow Right
JLL can help you finance and manage your portfolio. E-Mail us today to see how we can help achieve your ambitions.
Last updated
Aug 18, 2022