Listed by JLL Phoenix, JLL Chicago | Americas Headquarters
$5,800,000
Boot Barn & DXL - West Des Moines, IA
Details
Property Type Retail
Sub Type Shopping Center, Storefront
Square Footage 19,687
Units 2
Cap Rate 6.78%
NOI $393,390
Occupancy 100%
Tenancy Multi
Brand/Tenant Boot Barn, DXL
Lease Type NN
Lease Term 10
Remaining Term 9
Rent Bumps Yes
Lease Options Various
Price per SqFt $295
Year Built 2014
Acreage 2.520
Investment Type Net Lease
Tenant Credit Corporate Guarantee
Ground Lease No
Adjacent Top 1% Shopping Center in US | 6.78% CAP | 19,687 SqFt
Marketing description
Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to offer the opportunity to acquire the two-tenant Boot Barn & DXL at 6503 Mills Civic Parkway, West Des Moines, Iowa (“Property” or “Asset”). Boot Barn and DXL are operating on a corporate NN lease with ±9.0 years of weighted average lease term, with each tenant benefitting from 10% rent escalations every 5 years in each of their renewal options.
Broker of Record: Aaron Hyde – IA License #: S56270000
Investment highlights
- Two-tenant retail pad with ±9.0 years of weighted average lease term
- Adjacent to Jordan Creek Town Center, a top 1% most visited shopping center in the country (placer.ai) and the #1 most visited shopping center in Iowa
- DXL exercised its extension option early, bringing the lease term to ±7.2 years and demonstrating strong commitment to the center
- Next to Well’s Fargo Jordan Creek Campus with 12,000+ employees
- Trophy retail real estate in West Des Moines with an 83% population growth since 2010 within a 1-mile radius of the Property
- Just off Mills Civic Pkwy & I-35/I-80 interchange with 188,000 VPD
- Boot Barn is the largest & fastest growing retail chain in the western & workwear market
- DXL just completed a $1.2 billion merger with FullBeauty Brands in 2025
Listing Contacts
Listed by JLL Phoenix, JLL Chicago | Americas Headquarters
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$393,390.00
$32,782.50/mo
Valuation Metrics
0
DSCR
6.78%
Cap Rate
6.78%
ROI
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