Lowe's Home Improvement: Maple Grove, MN
Retail | 5.65% CAP | 137,933 SqFt
Marketing description
CBRE is pleased to exclusively offer for sale the 137,933-square-foot Lowe’s Home Improvement situated on 12.26 acres in Maple Grove, MN—a component of Greater Minneapolis (MSA Population: 3.8M). Originally set to expire in 2026, Lowe’s agreed to extend the lease through 2038 and features ±12.4 years of term remaining. Additionally, the lease features a corporate guaranty from Lowe’s Companies, Inc. (S&P: BBB+) and 5% rent increases in the ten, 5-year renewal options. Built in 2006, Lowe’s is an anchor to The Fountains at Arbor Lakes power center, which is also home to Costco, Dick’s Sporting Goods, Marshalls, HomeGoods, REI, PetSmart, Ethan Allen, Dave & Buster’s, OfficeMax, Holiday Inn & Suites (136 rooms), Courtyard (115 rooms), and more.
Investment highlights
Recently-Extended NNN Ground Lease with Corporate Guaranty
Originally set to expire in 2026, Lowe’s agreed to extend the lease through 2038 and features ±12.4 years of term remaining. Additionally, the lease features a corporate guaranty from Lowe’s Companies, Inc. (S&P: BBB+) and 5% rent increases in the ten, 5-year renewal options.
Top Visited Location
By visits, this Maple Grove location ranks among the top 30% throughout Minnesota, according toPlacer.ai.
Anchor to 510,985 SF The Fountains at Arbor Lakes Power Center
Lowe’s anchors the 510,985-square-foot The Fountains at Arbor Lakes, which is home to many premium retailers, including REI, DSW, Dick’s Sporting Goods, Marshalls, HomeGoods, Guitar Center, Dollar Tree, PetSmart, Office Depot, Dave & Busters, La-Z-Boy Furniture, Verizon, Firehouse Subs, Crumbl Cookies, Club Pilates, Jamba Juice and Great Clips, to name a few. Other major retailers in the immediate vicinity include Costco Wholesale, Ethan Allen, Holiday Inn (136 rooms), Courtyard by Marriott (115 rooms), Benihana, and TGI Fridays, among others. Over the last 12 months, the center has welcomed over 1.5 million visitors across 9.1 million visits and ranks among the top 15% of shopping centers within 15-miles by visits, the top 10% in Minnesota, and top 13% nationwide (Placer.ai).
Desirable Northwest Minneapolis Submarket
Situated within the Northwest Minneapolis Retail and Commercial Corridor, there are 7.1 MSF of retail, 3.4 MSF of office, 20.8 MSF of industrial and 6,229 multifamily units within a 3-mile radius of the site. The site is proximate to several retail developments, including the Shoppes at Arbor Lakes (Whole Foods Market, World Market, Trader Joes, Bath & Body Works, Victoria’s Secret & Pink by Victoria’s Secret, Athleta, Lululemon, Hot Topic, Torrid, Talbots, H&M, Rodizio Grill Brazilian Steakhouse) and Maple Grove Crossing (Kohl’s, Michaels, Petco, Barnes & Noble, Old Navy, Ashley, Five Below, Famous Footwear). Standalone retailers within the vicinity include Nordstrom Rack, Floor & Decor, Best Buy, David’s Bridal, Sierra, Chuck E. Cheese, Lunds & Byerlys, Bob’s Discount Furniture and Mattress Store, Burlington, and Total Wine & More, among many others.
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