Burnsville Crossing

Investment Overview

Burnsville Crossing (the “Property”) is a multitenant retail center anchored by Furniture Mart and located on County Road 42 near the convergence of interstates I-35E & I-35W within the established Burnsville regional retail trade are.

Investment Highlights

• STABLE AND RESILIENT FUNDAMENTALS
• The rent roll provides stability and growth with 4.4% CAGR and weighted average lease term of 5 years. Additionally, only 1% of the GLA expires within the first year of the hold period.
• WELL ESTABLISHED ANCHOR TENANT
• Furniture Mart is a long-established, Midwest-based furniture retailer operating 50+ retail locations across six states with centralized distribution and serving as one of the top 50 furniture retailers in the U.S.. Additionally, the lease has a corporate guaranty from Furniture Mart, USA, Inc.
• BELOW MARKET ANCHOR LEASE
• Furniture Mart makes up 48% of the GLA and is paying below market rent of $11.10 per square foot gross ($5.74 psf net). An investor has the opportunity to capitalize on this and increase rent to market once the final option expires in 2033.
• PRICED BELOW REPLACEMENT
• Burnsville Crossings is being offered at the low price per square foot of $102, representing a meaningful discount to current replacement cost, providing downside protection and positioning the asset favorably for long-term value preservation.
• DYNAMIC REGIONAL TRADE AREA
• The Property is located along County Road 42, the main thoroughfare for Burnsville’s primary retail trade area, which consists of approximately 1.6M square feet of retail with low average vacancy of just 3%. Most major retailers are represented in the trade area including Target, Costco, Home Depot, Hobby Lobby, Cub Foods, PetsMart, Crunch Fitness (opening 2026) and many more.