Burr Oak Distribution Center
Eagan, MN
Marketing description
Click to view OM: https://platform.reverecre.com/project/b6f50e50-ae9f-4aed-a974-7c9cbb8871a5
Newmark Group (“Newmark”) is pleased to present the rare opportunity to acquire the 22,959 square foot, 100% occupied, Burr Oak Small Bay Industrial Building (the “Property”), located at the intersection of Yankee Doodle Road and Dodd Road in Eagan, MN. The Property is occupied by 4 tenants with high demand suite sizes ranging from 3,160 SF to 8,818 SF. All suites have dock doors with the endcap spaces offering both drive-in and dock doors.
Additionally, two adjacent single tenant industrial buildings (635 Yankee Doodle Road and 3380 Dodd Road) are also for sale.
Investment highlights
High Demand Small Bay Industrial: There is significant appetite for small bay industrial spaces, which will provide an investor piece of mind for a well occupied, stable investment.
Below Market Rent: Two tenants with leases expiring in the next 12 months have an average annual rent of just $8.17 PSF, which is arguably 11% below current market rent for similar space.
Annual Rent Increases: Both Best Shift Hockey and EnerSys leases include 4% annual rent increases.
Outside Storage: Urban Escapes currently uses a significant portion of the rear lot for outside storage.
Below Replacement Cost: Investors will enjoy a meaningful low basis to replacement cost.
Leasing Momentum: A new, 5-year lease was recently executed with Best Shift Hockey, and EnerSys, an original tenant to the building extended their lease for an additional 3 years.
Affluent Community: Within 3 miles of the Property, the population is approximately 40,692 with an average household income of $118,000.
Highly Desirable Location: Eagan, Minnesota at the intersection of Dodd Road and Yankee Doodle Road
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