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Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to exclusively offer for sale the fee-simple interest in a newly developed, single-tenant Caribou Coffee in Red Wing, MN, located just outside of the Minneapolis-St. Paul MSA. Caribou Coffee, which has more locations in Minnesota than Starbucks and Dunkin Donuts combined, is the dominant coffee chain in the state. This triple net investment presents a unique opportunity to obtain steady, reliable cash flows from a high-quality tenant.
INNOVATIVE CARIBOU “CABIN” CONCEPT
This site features Caribou Coffee’s new “Cabin” concept, a drive-up and walk-up only format. This innovative building design minimizes the company use of real estate and maximizes efficiency in service, reducing costs and increasing profitability
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 recently signed a 10 year lease. The lease features 10% rent bumps every 5 years, increases which continue through the option periods
The building is newly constructed according to Caribou Coffee’s specifications. The recent construction reduces future costs of potential capital expenditures