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Views: 84 DOM: 101 Updated: 09.05.24 Posted: 06.07.24 Status: Active

Summary

Price $2,002,560
Built/Renov 1991/2023
Tenant SiteOne Landscape Supply
Cap Rate 6.60%
Lease Type NN+
Guarantor Corp T and Rated
Size/SF 14,829
Lease Start 03-01-2023
#Units 690
Price/SF $135.04
Expiration 01-31-2033
Tenant Type Industrial
NOI $132,169
R. Term 8.4
Ownership Fee Simple
Rent/SF $8.91
Increases 2.0%/1/yrs
Pop 5Mi 168,739
Lot/AC 1.00
Options 3/5yrs/2%
AHHI 5Mi $127,173

Lease Highlights

  • SiteOne Landscape Supply has 8+ years remaining on the current lease term with 3 (5-year) options to extend
  • The lease features 2% annual rental escalations throughout the initial term and 10.41% at the start of each option period
  • Favorable NN+ lease with landlord responsible for roof and structure
  • Corporate guaranteed lease

Location Description

SiteOne Landscape Supply is strategically located on 189th Street, with access to 140,100 vehicles passing by daily. The property is situated in the heart of dense residential housing and down the street from I-80 (140,100+ VPD). The immediate area is surrounded by well-known national tenants including ABC Supply Co., Target, Best Buy, TJ Maxx, DICK’s Sporting Goods, and Amazon FBM. The 5-mile...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

About Tenant

Hedberg Supply, the landscape supplies product division of Hedberg Aggregates, is the largest supplier of hardscapes products in Minnesota. They specialize in the distribution of hardscapes,...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 4,433 62,627 166,909
2023 Total Population : 4,315 63,036 168,589
2023 Employed Civilian Pop : 2,384 35,163 90,684
2023 Total Businesses : 466 2,405 5,755
2023 Average Household Income : $ 162,085 $ 129,474 $ 122,648
2023 Total Consumer Spending : $ 213 M $ 2600 M $ 6696 M
2023 Median Age : 38 41 43
2023 Total Households : 1,580 23,725 64,381
2023 Pop Age 25+: Bachelor's Degree : 1,009 11,541 31,259
2023 Average Home Value : $ 344,264 $ 312,675 $ 310,686
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
80th Ave I- 80 2012 16,100 0.21 mi
South 80th Avenue I- 80 2019 15,700 0.27 mi
191st Street Greenway Blvd 2019 21,000 0.30 mi
I- 80 80th Ave 2014 111,800 0.38 mi
80th Ave Greenway Blvd 2012 10,700 0.50 mi
185th Street Graphics Dr 2018 700 0.54 mi
96th Ave 2022 105,800 0.55 mi
Oak PkAve 2022 105,800 0.55 mi
80th Ave 183rd St 2012 16,100 0.64 mi
183rd St 183rd Pl 2014 7,950 0.67 mi

Listing Broker

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