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Attributes

Year Built 2022
Building Area Gross
Occupancy 100.0 %

Asset Description

Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to exclusively offer for sale the fee-simple interest in a newly developed, single-tenant Caribou Coffee in Red Wing, MN, located just outside of the Minneapolis-St. Paul MSA. Caribou Coffee, which has more locations in Minnesota than Starbucks and Dunkin Donuts combined, is the dominant coffee chain in the state. This triple net investment presents a unique opportunity to obtain steady, reliable cash flows from a high-quality tenant.

Investment Highlights

INNOVATIVE CARIBOU “CABIN” CONCEPT 

This site features Caribou Coffee’s new “Cabin” concept, a drive-up and walk-up only format. This innovative building design minimizes the company use of real estate and maximizes efficiency in service, reducing costs and increasing profitability


MARKET-DOMINANT COFFEE CHAIN

Caribou Coffee is the dominant coffee chain in Minnesota with more locations in the state than Starbucks and Dunkin’ Donuts combined


NEW 10 YEAR LEASE WITH 10% BUMPS

Caribou recently signed a 10 year lease. The lease features 10% rent bumps every 5 years, increases which continue through the option periods


NEW CONSTRUCTION

The building is newly constructed according to Caribou Coffee’s specifications. The recent construction reduces future costs of potential capital expenditures

Last Updated Date: 22 Nov 2022

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Last Updated Date: 22 Nov 2022

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