Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to exclusively offer for sale the fee-simple interest in the Crossroads Center located in Roseville, Minnesota. Crossroads presents an unparalleled investment opportunity to obtain supremely visible and accessible real estate in the highly demanded, infill Roseville submarket, located in the Minneapolis-Saint Paul MSA.
Built in 1985, Crossroads is 97% leased with a WALT of 2.8 years. The building contains 347,228 SF of leasable area with an additional 9,887 SF of storage. 81% of the building is leased by national retail giants such as Best Buy (BBB+), Dick's Sporting Goods (BBB), Kohl's (BBB-), JOANN (B), and Ulta.
The property occupies a prominent position in a retail corridor in an exceptionally demanded area of Roseville. The property is highly visible from and sits just off an exit of Snelling Avenue, a frequently traveled roadway linking Roseville to Saint Paul. Crossroads also benefits from its close proximity to MN-36, one of the primary east-west thoroughfares for all of the Twin Cities. In addition to its accessibility from major roadways, the investment is further enhanced by exposure from other nearby retailers, with Rosedale Mall and dozens of prominent retailers in the immediate vicinity.
INFILL RETAIL IN HIGHLY DEMANDED SUBMARKET IN ROSEVILLE
Roseville is a retail hub for the Twin Cities, and the immediate area surrounding the property is particularly in demand by retailers. Rosedale Center, the mall across the street from the property, and nearby centers feature numerous national retailers such as an Apple store, Walmart, Target, Total Wine, and a soon to be delivered Shake Shack.
POWER CENTER FEATURING NATIONAL CREDIT TENANTS
The investment is 81% occupied by national retailers which have thousands of locations across the globe. Tenants such as Best Buy, Dick's, Kohl's, and the US Government feature strong, investment grade credit that secures the investment.
DENSE & AFFLUENT DEMOGRAPHICS
The average household income within a 3-mile radius is an impressive $112,000 and is steadily growing. Within that same area is a population of over 82,000 people, providing a strong consumer base.
EASILY ACCESSIBLE & HIGHLY VISIBLE FROM SNELLING AVE (MN-52)
The property is located directly off the exit from Snelling Avenue (38,000 VPD), giving the property superior visibility and accessibility compared to nearby competing centers. The property is also in close proximity to MN-36 (80,600 VPD), one of the most trafficked east-west roadways in the metro.