For Auction
$7.0M NOI | Maplewood Mall | Value Add Development Opportunity
St. Paul, MN 55109Represented by
Brookwood Capital
Asset Snapshot
Offering Summary
Investment Highlights
- NOI: $7,001,936.84 with in-line store sales of $309 psf.
- Super-regional mall in dense retail hub with excellent access and visibility. Dene trade area population of 668K + within a ten-mile radius.
- 34.7 Acre Development Potential: 500+ proposed apartment units, 287 adjacent to property provide increased consumer sales traffic and greater tenant leasing interest.
- 50+ national tenants including Barnes & Noble, H&M, Shoe Dept. Anchor Tenants include JC Penny, Kohl's and Macy's
- Significant Value-Add through repositioning and lease-up of more than $82K SF and adjacent multifamily development.
Offering Details
Brookwood Capital Advisors and RI Marketplace are pleased to present this Super-Regional Mall | 50+ National Tenants | $7,001,936.84 NOI (the "Property"), a ± 321,217 SF retail opportunity located in St. Paul, Minnesota. The Property features a multitude of national tenants through its anchors, majors, and inline tenants. Anchor tenants include JCPenny, Kohl's, Macy's, and a proposed 287 apartments covering about 63% of the mall. The Property benefits from its strategic positioning in a dense retail hub located just two blocks south of the heavily traveled I-694 and has excellent access and visibility.St. Paul is part of the Minneapolis-St. Paul MSA, with these cities commonly referred to as the Twin Cities. These cities are a growing, economically diverse region with world-class health care and education. The Twin Cities also boast a stable, financially sound government and multiple Fortune 500 companies are headquartered in St. Paul along with three of the largest private companies in the U.S. in Minneapolis with no over reliance on a singular industry. The MSA is home to six professional sports teams, the Minnesota Orchestra, and many internationally acclaimed theaters and museum. Median household income in the ten-mile trade area is $74,752, higher than the national average, and projected to grow at 2.1% annually over the next five years. This MSA is the birthplace of enclosed malls which have long been an integral part of the Twin Cities.
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Disclaimers
The information being provided herein is for informational purposes only. No representation or warranty is made as to the accuracy or completeness of any information contained herein, including, without limitation, any information regarding the condition of the Property, the condition of title or Property descriptions. Any documents and/or pictures posted herein or elsewhere on the RealINSIGHT Marketplace (the "Website") are for informational purposes only, and may not represent the current condition of the Property or the condition of the Property at the time of sale. The posting of pictures herein or elsewhere on the Website does not constitute a guarantee that any items represented in the pictures will be present when the buyer takes possession of the Property. You are encouraged to conduct your own due diligence and investigate all matters relating to the Property. It is recommended that you seek independent advice, including legal advice, to perform your due diligence and that you use good faith efforts in determining that the content of all information provided to or obtained by you is accurate.
