Eagan Retail Center
Retail | 7.00% CAP | 10,018 SqFt
Marketing description
CBRE is pleased to exclusively present the opportunity to acquire the Eagan Retail Center. This offering includes two buildings totaling 10,018 square feet of retail and medical space, situated on an oversized parcel. The shopping center is located on a signalized hard corner within the Cliff Road retail trade area, and benefits from being shadow-anchored by Target. The tenancy is diverse, comprising of national, regional, and local service-based tenants. With the majority of rents significantly below those of new construction competitors, the property enjoys high tenant demand and strong future occupancy fundamentals for a prospective owner.
The property is well-positioned with 80,000 households within a 5-mile radius, and an average household income of over $133,000 within a 3-mile radius. Key traffic drivers in the immediate area include Target, Cub Foods, Trader Joe’s, Emagine Theaters, as well as a variety of retailers and dining options.
This offering provides an opportunity to acquire a stabilized Class A med-retail investment in a highly sought-after retail trade area within the south metro of the Twin Cities.
Investment highlights
100% OCCUPIED
100% occupied retail center with excellent historical occupancy.
STRONG RETAIL CORRIDOR
Strong retail corridor featuring Target, Trader Joe’s, Cub Foods and many other national retailers.
HIGHWAY 77 & 35E ACCESS
Well located with easy access to both Highway 77 and 35E.
NO DEFERRED MAINTENANCE
High quality construction with no deferred maintenance.
STABLE RENT ROLL
Stable rent roll featuring the largest tenant, Herself Health with over 8 years remaining on their lease.
HARD CORNER SIGNALIZED
Cliff road features more than 20,000 daily drivers and 35E features more than 70,000 cars per day.
FUTURE UPSIDE POTENTIAL
Future upside potential with majority of tenants at below market rental rates.
GROWING SUBMARKET
Eagan is highly desirable and growing submarket in the Twin Cities.
SERVICE BASED TENANCY
The rent roll consists of service based tenants resistant to online competition.
$133,000 AVERAGE HOUSEHOLD INCOME (3-MILE)
80,000 homes are located within a 5-mile radius of the property.
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