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PROPERTY INFORMATION
Address: 11633 Ulysses Street NE, Blaine, MN 55434
Square Feet: 33,500
Occupancy: 100%
FINANCIAL SUMMARY
Offering Price: $6,500,000
Cap Rate: 7.03%
INVESTMENT HIGHLIGHTS
MARSHALLS
Marshalls parent company, TJX, has an A+ Standard & Poor's credit rating. TJX operates 16 Marshalls, 15 TJ Maxx, 12 Home Goods and two (2) Sierra Trading Posts in Minnesota.
PETCO
With annual revenue of $4.2 billion, Petco is #100 on the 2018 Forbes list of America's Largest Private Companies.
DOMINANT SHADOW ANCHORS
The Property is shadow anchored by Walmart Supercenter and Lowe's, the #2 home improvement chain with 2018 sales of $68.6 billion and ranked #40 on the Fortune 500 list. Walmart is ranked #1 on the Fortune 500 list, with over $500 billion in annual sales.
ULTA UNDER CONSTRUCTION
Ulta (NASDAQ:ULTA), a Fortune 500 company with 1,000+ locations, is being constructed on the pad directly adjacent to the Property with an estimated opening fall 2019.
DEPENDABLE INCOME STREAM
Both tenants executed 10-year leases with a rent increase year 6 with 8 years remaining.
AFFLUENT & GROWING MARKET
Average household income within 3 miles is $99,000. The City of Blaine has experienced 14% population growth since 2010.
LOW MARKET VACANCY
The Blaine retail submarket is comprised of 4.5 million square feet with a low 4.9% market vacancy.
NATIONAL SPORTS CENTER
Blaine is home to the world's largest amateur sports facility, the National Sports Center, with over 4 million annual visitors.
TWIN CITIES - A STRONG PERFORMING U.S. ECONOMY
The Twin Cities is a well-diversified, stable market and the 16th largest metropolitan area in the nation with more than 3.8 million people. The Twin Cities is home to 19 Fortune 500 companies (#1 per capita in the nation) and 7 Forbes' largest private companies, including #1 ranked Cargill. Minnesota continually leads the nation in virtually every education statistic and has consistently lower unemployment rate than the national average (2.8% MN vs. 3.9% nationally).
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