Asking Price Contact for pricing
Area Size
NOI Net Operating Income
NIY N/A

Documents

Enter the "Deal room" for exclusive documents related to this property.

The Deal Room features confidential documents related to this property. To access the Deal Room, you will need to be logged in. If you don't have an account, please create one. More questions? Visit our FAQ.
I accept the confidentiality agreement
Create an account on the Investor Center to save your search and investment preferences, save and share opportunities, access exclusive documents, and more. More questions? Visit our FAQ. Approval for Deal Room access requires review by our Broker Team. You will be notified by email once your access is granted. More questions? Visit our FAQ. You'll need to sign a Confidentiality Agreement (CA) to access exclusive documents in the Deal Room. Signing the CA means you agree not to divulge or release sensitive information related to this property. More questions? Visit our FAQ.
I accept the confidentiality agreement I accept the confidentiality agreement
Create an account on the Investor Center to save your search and investment preferences, save and share opportunities, access exclusive documents, and more. More questions? Visit our FAQ. You'll need to sign a Confidentiality Agreement (CA) to access exclusive documents in the Deal Room. Signing the CA means you agree not to divulge or release sensitive information related to this property. More questions? Visit our FAQ.

Attributes

Year Built 1996
Building Area Gross
Occupancy 94.0 %

Asset Description

Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to exclusively offer for sale the fee-simple interest in Edinburgh Festival Centre located in Brooklyn Park, Minnesota. Edinburgh Festival Centre presents an unparalleled investment opportunity to obtain a grocery-anchored center with below market rents in one of the Twin Cities' largest and densest suburbs.

Edinburgh Festival Centre consists of three buildings, two consisting of primarily retail tenants and the other consisting of primarily office tenants. The property is 94.4% leased with a WALT of 4.1 years. The property contains 109,991 SF of leasable area and is leased by a healthy mix of 21 national and local tenants. The property is anchored by Festival Foods, a regional grocer with eight locations, which takes up approximately half of the leasable area.

The property sits just off an exit of MN-252, a frequently traveled roadway linking Brooklyn Park to Minneapolis. The site also benefits from high visibility and multiple accesses from Edinburgh Centre Dr. The investment is further enhanced by Brooklyn Park's demographics. Brooklyn Park is the 4th largest city in the Minneapolis-Saint Paul metro and the area contains nearly 100,000 residents within a three-mile radius.​​​​​​

Investment Highlights

GROCERY ANCHORED CENTER CENTER WITH BELOW MARKET RENTS

  • Festival Foods has below market rent and has occupied their space for over 25 years
  • Many other tenants carry below market rents, providing an excellent mark-to-market opportunity

WELL POSITIONED NEAR SIGNALIZED CORNER OF MINNESOTA STATE HIGHWAY 252 AND 85TH AVENUE

  • The site is positioned off of MN-252 (59,000 VPD), a primary thoroughfare linking Minneapolis' CBD and I-94 to the northwestern suburbs
  • The property is accessible from several points and visible from 85th Ave (18,900 VPD)

HEALTHY MIX OF NATIONAL AND LOCAL TENANTS

  • Tenants such as Children's Health, Caribou Coffee, Dollar Tree, and Dairy Queen are strong national tenants and provide a credit base to the investment
  • Successful local tenants, some of which have been in-place since the 1990s, provide a strong income stream for the center

POPULATED GATEWAY CITY

  • Within a 3 mile radius, the area contains nearly 100,000 residents. This density increases demand for real estate in the area
  • Brooklyn Park is the 4th largest city in the Minneapolis-St. Paul and the 6th largest in Minnesota


Last Updated Date: 29 Sep 2022

There was an error submitting your request. Please try again, or submit you inquiry here.

 

PRIVACY NOTICE

Jones Lang LaSalle (JLL), together with its subsidiaries and affiliates, is a leading global provider of real estate and investment management services. We take our responsibility to protect the personal information provided to us seriously.

Generally the personal information we collect from you are for the purposes of dealing with your enquiry.

We endeavor to keep your personal information secure with appropriate level of security and keep for as long as we need it for legitimate business or legal reasons. We will then delete it safely and securely. For more information about how JLL processes your personal data, please view our privacy statement.

Last Updated Date: 29 Sep 2022

Do you have any questions?  Visit our FAQ page

JLL  financing

JLL can help you finance and manage your portfolio.
Email us today to see how we can help achieve your ambitions.