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Corporate Strip Center in Core Market Maple Grove CURRENTLY UNDER CONSTRUCTION For more info on this opportunity please contact: JOHN ANDREINI RICK SANNER corporate strip [email protected] | (415) 274-2715 [email protected] | (415) 274-2709 CA BRE# 01440360 CA BRE# 01792433 center in core market BOB SANNER CHRIS PETERS 12725 Elm Creek Blvd N, Maple Grove, MN 55369 [email protected] | (415) 274-2717 [email protected] | (415) 274-2703 CA BRE# 00869657 CA BRE# 01339983 Capital Pacific collaborates. Click here to meet the rest of our San Francisco team. FREESTANDING PANDA EXPRESS, MATTRESS FIRM, PACIFIC DENTAL, AND NAF NAF GRILL CORPORATE LEASE STRIP CENTER IN THE MOST DESIRABLE TRADE AREA OF A HIGH Investment Highlights INCOME MINNEAPOLIS-ST. PAUL MSA SUBURB PRICE: $7,787,406 RENTABLE SF . 11,612 SF LEASE TYPE . NNN CAP: 6.40% PRICE PER SF . $670.63 YEAR BUILT . 2015 LOCATION HIGHLIGHTS Located in the heart of the Maple Grove retail trade area and anchored by high-end retailers such as Whole Foods, Pottery Barn, and Anthropologie Tremendous daytime population with numerous Class A office complexes within walking distance. Retailers in the immediate vicinity include Target, Lowe’s Home Improvement, Costco, Nordstrom Rack, Home Depot, Walmart Supercenter, Old Navy, Bed Bath & Beyond, TJ Maxx, Dick’s, and many others MARKET HIGHLIGHTS Average household incomes of $90-$115,000 in a 1, 3, and 5 –mile radius More than 169,000 people within a 5-mile radius with huge growth projections within 1, 3, and 5-mile radiuses Within the Minneapolis-Saint Paul MSA comprised of 3.6 million residents TENANT HIGHLIGHTS Panda Express is one of the hottest restaurants in the country Mattress Firm is publicly traded on NASDAQ (MFRM) - $1.2 billion in 2014 revenues Mattress Firm is the largest bedding retailer in the United States and recently acquired Sleep Train for $425 million in cash and stock – sales are projected at $2 billion for new company in 2015 Pacific Dental is based in Costa Mesa, CA and operates more than 400 locations in 15 states with plans to add 50 offices per year NAF NAF has 15 locations and a corporate guarantee LEASE HIGHLIGHTS Brand new 10-year corporate leases SURROUNDING RETAIL 10% rental increases throughout base terms and option periods maple groVE | 2 Landlord responsible for roof and structure; brand new 20-year warranty to be delivered to buyer LOCATED IN THE HEART OF THE MAPLE GROVE RETAIL TRADE AREA MAPLE GROVE CROSSING MINNEAPOLIS N 94 85th Avenue N CITY CENTER Weaver Lake Road Zachary Lane 94 STRIP CENTER 52 Hemlock Lane FOUNTAINS AT ARBOR LAKES ARBOR LAKES Elm Creek Boulevard N 22,700 DAILY 169 114,00 DAILY THE SHOPPES AT ARBOR LAKES 94 694 52 Maple Grove Jr . High School 494 maple groVE | 3 SURROUNDING RETAIL Income & Expense PRICE $7,787,406 Price Per Square Foot: $670.63 Capitalization Rate: 6.40% Total Rentable Area (SF): 11,612 Lot Size (Acres): 1.86 Year Built: 2015 STABILIZED INCOME Per Square Foot Scheduled Rent $42.92 $498,394 Effective Gross Income $42.92 $498,394 LESS Per Square Foot Taxes NNN $0.00 Insurance NNN $0.00 Total Operating Expenses $0.00 EQUALS NET OPERATING INCOME $498,394 This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies. maple groVE | 4 Rent Roll TENANT INFO LEASE TERMS RENT SUMMARY Current Monthly Yearly Monthly Yearly Tenant Name Sq. Ft. Term Rent Rent Rent Rent/FT Rent/FT Mattress Firm 4,035 1 5 $181,575 $15,131 $181,575 $3.75 $45.00 6 10 $16,702 $200,425 $4.14 $49.67 Option 1 11 15 $18,372 $220,468 $4.55 $54.64 Option 2 16 20 $18,372 $220,468 $4.55 $54.64 Panda Express 2,420 1 5 $113,740 $8,800 $113,740 $2.18 $28.19 6 10 $9,680 $125,011 $2.40 $30.98 11 16 $10,568 $131,512 $2.62 $32.59 16 20 $11,624 $151,270 $2.88 $37.49 21 25 $13,930 $167,156 $3.45 $41.43 26 30 $15,322 $183,865 $3.80 $45.57 Pacific Dental 2,703 1 5 $100,011 $8,334 $100,011 $2.07 $24.79 6 10 $9,292 $111,499 $2.30 $27.63 Option 1 11 15 $8,800 $122,662 $2.18 $30.40 Option 2 16 20 $9,680 $134,907 $2.40 $33.43 Naf Naf 2,454 1 5 $103,068 $10,560 $103,068 $2.62 $25.54 6 10 $11,440 $113,375 $2.84 $28.10 Option 1 11 15 $10,568 $124,712 $2.62 $30.91 Option 2 16 20 $11,624 $137,179 $2.88 $34.00 Current Totals: 11,612 $498,394.00 $41,532.83 $498,394.00 $3.75 $45.00 This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies. maple groVE | 5 Tenants Mattress Firm Panda Express Mattress Firm currently operates Panda Express is a fast casual restaurant over 2,000 locations across 40 states chain serving Americanized Chinese nationwide, making it the largest cuisine. It operates mainly inside in bedding retailer in the country. shopping malls, supermarkets, airports, Mattress Firm offers conventional train stations, strip plazas, theme parks, mattresses, specialty mattresses, and stadiums, college campuses, and also bedding related accessories comprised has a location in The Pentagon. In of bed frames, mattress pads, and 2004, the company began opening pillows. Mattress Firm carries a broad stand-alone restaurants with drive- assortment of national mattress brands thru windows. Panda Express has 1,241 and exclusive brands. In 2011, Mattress restaurants covering 38 states and Firm Holding Corp went public and Puerto Rico, as well as two locations in has shown very strong sales and profit Japan. Revenue for fiscal 2014 was $2 growth. billion. SIGNALIZED INTERSECTION maple groVE | 6 Tenants Pacific Dental Naf Naf Grill Pacific Dental Services is an Naf Naf Grill is the premium destination outsourcing company that handles the for fresh, authentic Middle Eastern administrative tasks of dental practices. food. Oven baked pitas, hand cut The company started in 1994 with its salads, and freshly prepared sauces first affiliated office in Costa Mesa, CA, all served as an accompaniment to and, by 1997, had grown to more than award-winning shawarma and falafel. 20 supported offices. Today they have There are 17 locations throughout the over 200 affiliated offices throughout midwest in major cities like Chicago 10 states, and plan to add more than and Minneapolis. Naf Naf Grill is a new 50 affiliated office each year moving business that is exploding and will likely forward. Pacific Dental Services works become as common as Chipotle. with a variety of dental specialists, including Orthodontists, Oral Surgeons, Endodontists, Periodontists, and Pediatric Dentists. SURROUNDING RETAIL maple groVE | 7 Site Plan Elm Creek Boulevard Main Street maple groVE | 8 About Arbor Lakes subject property IS located at THE entrance OF ARBOR LAKES (SEE below FOR TENANT LINEUP) REGIONAL MARKET / SUBMARKET: maple groVE, minnesota YEAR BUILT: 2003 GROSS LEASABLE AREA: 1.43 MILLION square feet RETAIL SQUARE FOOTAGE:1,262,000 square feet OFFICE SQUARE FOOTAGE: 168,000 square feet TENANTS: maple groVE | 9 Arbor Lakes Site Plan subject property IS ON THE HARD corner, SIGNALIZED intersection pad OF nordstrom racK SUBJECT PROPERTY maple groVE | 10 Surrounding Retail maple groVE | 11 Regional Map Traffic counts Maple Grove, MN of 22,700 VPD on ELM CREEK BLVD maple groVE BIG SPRING CROSSING 22 Min MAPLE 17.8 Miles MINNEAPOLIS GROVE maple groVE | 12 SIGNALIZED INTERSECTION Location & Demos MAPLE GROVE, MN OVERVIEW POPUlation Maple Grove is located in Hennepin County, just 22 miles from Minneapolis, 1-Mile 3-Mile 5-Mile and had a 2010 population of over 60,000 residents. Maple Grove serves as the 2010 5,294 53,016 158,939 retail, cultural, and medical center of the northwest region of the Minneapolis- 2014 5,905 56,437 169,479 Saint Paul metropolitan area. 2019 6,328 60,389 180,949 Maple Grove’s most recent development, The Grove, is located at the intersection of Interstate 94 and Maple Grove Parkway. This district is home 2014 HOUSEHOLD INCOMES to the new North Memorial Fairview hospital complex, Super Target, Home 1-Mile 3-Mile 5-Mile Depot, Slumberland, and many other national retailers. The central portion of Average $90,918 $115,130 $102,009 the project is designed to be pedestrian-friendly and encourage a small-town Median $80,540 $94,594 $79,384 atmosphere within the larger scale of the development. Maple Grove is home to more retail than nearly any other city in the state, TOP EMPLOYERS IN MAPLE GROVE second only to Bloomington, the home of the Mall of America. Maple Grove itself is likely to have nearly 6 million square feet of commercial development Employer # of Employees* at build out, which may soon push the city into the number one spot for retail Boston Scientific 3,000 square-footage. Independent School District #279 3,000 United Parcel Service 750 Barborossa & Sons 300 *Approximate maple groVE | 13 A unique HUMAN THE CAPITAL PACIFIC EXPERIENCE - OUR DAIly COMMITMENT TO OUR CLIENTS RESULTS-DRIVEN client experience [ www .capitalPacific .com ] SURROUNDING RETAIL JOHN ANDREINI RICK SANNER [email protected] | (415) 274-2715 [email protected] | (415) 274-2709 CA BRE# 01440360 CA BRE# 01792433 BOB SANNER CHRIS PETERS [email protected] | (415) 274-2717 [email protected] | (415) 274-2703 CA BRE# 00869657 CA BRE# 01339983 Copyright © 2015 [Capital Pacific Real Estate Brokerage Company].
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