Cibus
Absolute NNN Lease
Marketing description
The Kase Group is pleased to present a rare opportunity to acquire a state-of-the-art facility located in Roseville, Minnesota. The property is secured by a 11+ year Absolute NNN Lease, offering zero landlord responsibilities and long-term peace of mind. The lease is corporately guaranteed by Cellectis S.A., a publicly traded French pharmaceutical firm (NASDAQ: CLLS), and includes 7.5% rental escalations every five years along with four (4) additional five-year renewal options.
Delivered in 2018, the asset is a premier Class-A construction situated on an expansive 11-acre corporate campus. It features cutting-edge lab and research facilities, a test kitchen, greenhouse, and outdoor demonstration plots, making it essential to the operations of the current tenant, Cibus, a leader in precision gene editing for agriculture. The location offers excellent accessibility, just five minutes from Downtown Minneapolis and eight minutes from Downtown St. Paul, with immediate access to I-35W, which sees over 139,000 vehicles per day.
The property sits within a 280-acre master-planned redevelopment that blends high-density residential, Class-A office and industrial space, retail, and hospitality. It benefits from strong surrounding demographics, including 284,204 residents in the primary trade area and 285,584 residents within five miles, along with a daytime workforce of 238,011 employees in the same radius. Average household income exceeds $99,000 within one mile. Nearby is Rosedale Center, a major regional shopping destination with more than 14 million annual visitors, recently enhanced by a $100 million renovation. The area also offers vibrant lifestyle amenities, including restaurants, hotels, entertainment venues, and outdoor recreation at Langton Park.
Investment highlights
- Absolute NNN Lease with Zero Landlord Responsibilities
- Corporate Guarantee - Cellectis S.A. (NASDAQ: CLLS)
- Assumable debt at 3.61% I/O through 2029
- 2018 Class-A Construction on 11-Acre Corporate Campus
- Located Within 280-Acre Master-Planned Mixed-Use Redevelopment
- 5 Minutes to Downtown Minneapolis, 8 Minutes to Downtown St. Paul
- Immediate Access to I-35W with 139,000 Vehicles Per Day
- Strong 5-Mile Demographics - 285,584 Residents and 238,011 Daytime Employees
- Affluent Area - Average Household Income Exceeds $99,000 Within 1 Mile
- Near University of Minnesota Agricultural and Resource Sciences Campus (3,335 Students)
- Across from Rosedale Center - 14+ Million Annual Visitors
- Adjacent to $100 Million Regional Retail Renovation
- Surrounded by Restaurants, Hotels, Entertainment, and Langton Park Trails
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