Crystal Retail Center
Retail | 8.67% CAP | 27,014 SqFt
Marketing description
Crystal is a fully-developed, first tier suburban community just west of Minneapolis in Hennepin County, which is situated at about 5 miles from Downtown Minneapolis.
The City of Crystal has more than 240 acres dedicated to parks and open space. The city maintains 26 parks as well as numerous ball fields, courts, playgrounds, trails and activity areas. The Crystal Community Center features an outdoor aquatic center, skate park and little league baseball complex.
The City of Crystal is in the midst of their Town Center Vision Plan which is to establish a compelling and cohesive 25 year vision for the Town Center Area which surround this property. The plan is to explore redevelopment and infrastructure improvement opportunities that support the City’s goals.
Crystal has been awarded the “Minnesota Star City” designation for economic development.
Investment highlights
INVESTMENT HIGHLIGHTS
DENSE RETAIL CORRIDOR
The offering is located in a dense retail corridor in the first ring suburb Crystal. The property is located just 6 miles Northwest of Downtown Minneapolis.
COMPLIMENTARY AND DIVERSE TENANTS
Retail corridor features national tenants such as Target, Aldi, Starbuck’s and McDonalds.
RENTS SIGNIFICANTLY BELOW MARKET
The Property is 100% occupied by a diverse tenant mix at rents significantly below market.
STRONG CASH FLOW AND CAP RATE
Strong going-in cash flow and Cap Rate with significant upside through rent growth and converting to net leases.
PRICED BELOW REPLACEMENT COST
The property is priced well below replacement cost.
METRO BLUE LINE EXTENSION
The property is situated adjacent to a planned future light rail station that should significantly increase the traffic to the center.
DENSELY POPULATED CITY
The city of Crystal is densely populated with over 110,000 people in a three mile radius.
HIGH TRAFFIC LOCATION
The property is located near two major interstates and two large highways, seeing over 100,000 vehicles per day.
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