Retail

Grove Square Plaza

13574 80th Cir N, Maple Grove, MN, 55369-8908, US

Grove Square Plaza_Property for Sale

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Asset description

Jones Lang Lasalle Americas, Inc. (“JLL”) is pleased to present the opportunity to acquire the fee simple interest in a 100% occupied strip center in Maple Grove, MN, just 20 minutes northwest of downtown Minneapolis. The property is leased to six different tenants, three of which have been located there since 2010 or earlier. Four out of the six leases feature annual rent increases and all of the leases are triple net. This investment provides the unique opportunity to obtain stable cash flows from long term tenants in an irreplaceable location.

Attributes

Building area gross
27,557 sf
Occupancy
100.00%
Year built
1989

Investment highlights

IRREPLACEABLE LOCATION IN THE HEART OF MAPLE GROVE

Less than a mile from major traffic drivers including Arbor Lakes Complex, Maple Grove City Hall and Government Center, and Interstate 494.


EXCELLENT HISTORICAL OCCUPANCY

Four of the six current tenants have been in the building for a decade or more and two of the six tenants have been in the building for over 27 years.


HEALTHY AND GROWING SUBURB

Maple Grove has seen a 42% population increase over the last 20 years and remains well positioned for continued growth.


HIGH BARRIERS TO ENTRY

Immediate retail trade area is fully developed; some sites in immediate area are undergoing redevelopment.

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Last updated
Nov 14, 2022