Marion Retail Center
Retail | 7.50% CAP | 8,892 SqFt
Marketing description
Jones Lang LaSalle Americas, Inc. ("JLL"), is pleased to exclusively offer for sale the fee-simple interest in Marion Retail Center located at 1217 Marion Rd SE in Rochester, Minnesota. The investment consists of a single-story retail building containing 8,892 SF of GLA situated on 0.93 acres. Built in 2013, this modern retail center offers investors a stable income-producing asset in Rochester's thriving economy.
The property is 100% occupied with a diverse tenant roster of six local and national tenants including Golden Wok, Beauty Mark, GLO Nails, Metro by T-Mobile, Tortilleria La Mayzteca, and Toppers Pizza. With a WALT of 2.8 years and several leases featuring 3% annual rent escalations, the investment provides built-in NOI growth potential. With current tenants in-place for 7.5 years on average, this investment is positioned for a stable income stream and strong tenant retention.
The center is strategically positioned at the high-traffic intersection of US Highway 14 & Marion Rd SE, capturing over 39,000 combined vehicles per day at this major four-way signalized intersection. Located along Rochester's primary east-west retail artery, the property benefits from direct proximity to a thriving big box center anchored by Cub Foods and Planet Fitness, creating consistent cross-shopping opportunities. The investment is further strengthened by Rochester's destination medical economy, anchored by the world-renowned Mayo Clinic and the transformative $6.5B Destination Medical Center development, along with high-income demographics featuring a 3-mile average household income of nearly $116,000.
Please refer to the OM for more information on this investment opportunity.
Investment highlights
STABLE INCOME STREAM WITH RENT GROWTH
• Current tenants have been in place for an average of 7.5 years, showing strong tenant retention and lease stability
• Several leases feature 3% annual rent escalations, providing built-in NOI growth
GROCERY SHADOW-ANCHOR
• Direct proximity to a thriving big box center anchored by Cub Foods and Planet Fitness
• Creates a proven retail destination that drives consistent customer traffic and cross-shopping opportunities
PREMIER LOCATION WITH SIGNALIZED INTERSECTION
• Located at the high-traffic intersection of US Hwy 14 & Marion Rd SE, capturing over 39,000+ combined VPD at a major 4-way signalized intersection
• Positioned along Rochester's primary east-west retail artery, benefitting from strong daily traffic flow generated by Cub Foods and other nearby anchors
ROCHESTER'S DESTINATION MEDICAL CENTER ECONOMY
• Rochester is home to the world-renowned Mayo Clinic and the transformative Destination Medical Center (DMC) development, which drives exceptional economic stability and attracts high-income residents
• Benefits from Mayo Clinic's $6B+ annual economic impact and the DMC's ongoing $6.5B investment
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