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Views: 91 DOM: 160 Updated: 08.12.24 Posted: 04.09.24 Status: Contract 08.12.24

Summary

Price $1,885,714
Built/Renov 1979
Tenant SiteOne Landscape Supply
Cap Rate 7.00%
Lease Type NN+
Guarantor Corp T and Rated
Size/SF 2,044
Lease Start 05-25-2017
#Units 690
Price/SF $922.56
Expiration 05-24-2027
Tenant Type Industrial
NOI $132,000
R. Term 2.8
Ownership Fee Simple
Rent/SF $64.58
Increases 9.0%/3/yrs
Pop 5Mi 98,257
Lot/AC 4.50
Options 2/5yrs/9%
AHHI 5Mi $140,912

Lease Highlights

  • SiteOne Landscape Supply has 3 years remaining on the current lease term with 2 (5-year) options to extend
  • Lease features 9% rental increase at the start of option 1 and 8% increase at the start of option 2
  • Favorable NN+ lease with landlord responsible for structure/foundation
  • Corporate guaranteed lease (NYSE: SITE)

Location Description

SiteOne Landscape Supply is strategically located on 4.5 acres along Leesville Rd. The site benefits from being positioned within a dense and affluent area that is seeing explosive population growth. Surrounding retailers include Kohl’s, Walmart, Dollar Tree, BJ’s, Target, Target and more, creating a strong consumer drive to the trade area. Approximately 98,257 residents, earning an average...

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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...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 4,574 47,469 102,199
2023 Total Population : 4,118 44,817 98,257
2023 Employed Civilian Pop : 1,376 26,102 56,634
2023 Total Businesses : 24 1,405 3,148
2023 Average Household Income : $ 127,211 $ 141,195 $ 140,912
2023 Total Consumer Spending : $ 234 M $ 2413 M $ 5071 M
2023 Median Age : 44 37 37
2023 Total Households : 2,167 20,029 42,104
2023 Pop Age 25+: Bachelor's Degree : 1,088 12,938 26,543
2023 Average Home Value : $ 441,867 $ 425,373 $ 423,232
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Andrews Chapel Rd Leesville Rd 2000 390 0.31 mi
Olive Branch Rd Carpenter Pond Rd 2000 700 0.48 mi
Carpenter Pond Rd Olive Branch Rd 2013 1,700 0.52 mi
Andrews Chapel Rd Cozart Rd 2000 60 0.83 mi
Olive Branch Rd Leesville Rd 2000 500 0.86 mi
Doc Nichols Rd Leesville Rd 2000 490 1.06 mi
Brier Creek Pkwy Acc Blvd 2013 460 1.22 mi
Acc Blvd Brier Creek Pkwy 2013 1,080 1.25 mi
Acc Blvd Brier Creek Pkwy 2013 10,970 1.30 mi
Brier Creek Pkwy Acc Blvd 2013 11,590 1.32 mi

Listing Broker

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