Marshalltown Center
Multi-Tenant Strip Center | Starbucks Anchored | 7.9 Years WALT
Marketing description
Jones Lang LaSalle Americas, Inc. ("JLL"), is pleased to exclusively offer for sale the fee-simple interest in Marshalltown Center located at 3109 S Center St, Marshalltown, IA 50158. This 6,600 SF multi-tenant retail center sits on 1.09 acres and is 100% occupied with a WALT of 7.9 years, anchored by Starbucks under a new 10-year lease.
This investment opportunity offers investors a stable, long-term income stream backed by Starbucks, which recently opened under a 10-year absolute NNN lease with four 5-year renewal options that could extend their tenancy through 2056. Starbucks occupies 36% of the GLA and has built-in rent escalations every five years, providing strong cash flow predictability. The recent execution of new leases across the center demonstrates active tenant demand and delivers a fully stabilized property with minimal near-term rollover risk.
Marshalltown Center benefits from exceptional positioning on S Center Street, the primary north-south commercial artery serving the entire community with 14,500 vehicles per day. The property sits at a signalized intersection just a quarter-mile from US Highway 30, placing it at the heart of Marshalltown's dominant retail corridor alongside national powerhouses including Walmart, Menards, McDonald's, Kwik Trip, Culvers, and Aldi. Starbucks operates as the premier coffee shop in the immediate trade area with minimal competition across the broader market, while the nearby Walmart generates an impressive 2.4 million visits annually, creating substantial traffic flow that benefits all tenants in the center.
As a regional hub of approximately 27,000 residents, Marshalltown maintains economic stability through its diversified base of manufacturing, retail, and service industries. Major employers like JBS, Emerson Process Management, and Lennox Industries anchor the local economy and support consistent retail spending. The city's strategic location along Highway 30 and recent downtown revitalization efforts position Marshalltown's retail sector for steady, sustainable growth.
Please refer to the OM for more information on this investment opportunity.
Investment highlights
NATIONAL TENANT WITH LONG-TERM COMMITMENT
- Starbucks recently opened for business under a new 10-year lease with two 5-year options, providing strong income stability
- They occupy 36% of the GLA, enhancing the property's value and long-term cash flow
STRONG LEASING MOMENTUM AND WALT
- Recent lease executions demonstrate active tenant demand for the site and deliver a fully stabilized income stream
- The new Starbucks lease brings the current WALT for the center to nearly 8 years
REGIONAL RETAIL DESTINATION WITH POWERFUL ANCHORS
- Center is positioned within Marshalltown's dominant retail corridor featuring national brands including Walmart, Menards, McDonald's, Kwik Trip, Culvers, and Aldi
- The nearby Walmart is the only location within 15+ miles, generating an impressive 2.4M visits in the past 12 months
STRATEGIC LOCATION IN RETAIL CORRIDOR
- Located just a quarter-mile off of US Highway 30, which is the primary east-west roadway and carries 14,310 VPD, the site is in the center of Marshalltown's primary retail corridor
- The property has great visibility from S Center Street and accessibility from Iowa Ave W
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