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Key facts

Year Built 2022
Building Area Gross
Occupancy 100.0 %

Property description

Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to exclusively offer for sale the fee-simple interest in a Caribou Coffee located in the Grand Rapids, Minnesota. Caribou Coffee is the dominant coffee chain in Minnesota, with a history of sustained growth and plans for future expansion. The building was recently renovated in 2022. This triple net investment presents a unique opportunity to obtain steady, reliable cash flows from while having minimal management responsibilities with the net lease structure. 

Investment highlights

INNOVATIVE “CABIN” CONCEPT

This site is Caribou Coffee’s new “Cabin” concept, featuring a new drive-up and walk-up only format

MARKET-DOMINANT COFFEE CHAIN

Caribou Coffee is the dominant coffee chain in Minnesota with more locations in the state than Starbucks and Dunkin’ Donuts combined

NEW 10 YEAR LEASE WITH 10% BUMPS

Caribou Coffee recently signed a 10 year lease that commences upon opening. The lease features 10% rent bumps every 5 years, increases which continue through the option periods

NEW CONSTRUCTION

The building was completely renovated as a built-to-suit structure according to Caribou Coffee’s specifications

ADDITIONAL INCOME FROM LOW MAINTENANCE TENANT

The property offers additional income from a lease with Affinity Plus ATM. Affinity Plus will maintain all of their own equipment requiring no landlord responsibilities

LOCATED NEAR INTERSECTION OF MAJOR HIGHWAYS US-2 & US-169

The building is in close proximity to the signalized intersection of US Highway 2 (8,000 VPD) & US Highway 169 (14,200 VPD)

Last Updated Date: 01 Aug 2022

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Last Updated Date: 01 Aug 2022

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