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1320 Highway 15 S
Hutchinson, MN 55350

ALDI Grocery Anchored NNN -3 Tenants - 8% CAP · Retail Property For Sale

PROPERTY FACTS

Property Type
Retail
Property Subtype
Supermarket
Building Size
61,996 SF
Building Class
C
Year Built/Renovated
1999/2017
Tenancy
Multiple
Number of Floors
1
Building FAR
0.22
Lot Size
6.33 AC
Zoning
C-4
Parking
377 Spaces (7.35 Spaces per 1,000 SF Leased)
Frontage
347 ft on Mn-15 Hwy S

Amenities

  • Bus Route
  • Corner Lot
  • Dedicated Turn Lane
  • Property Manager on Site
  • Pylon Sign
  • Restaurant
  • Signage
  • Signalised Intersection

About 1320 Highway 15 S , Hutchinson, MN 55350

The Cooper Commercial Investment Group has been exclusively retained by ownership to sell County Fair Market Place, an ALDI grocery anchored center comprised of three well-known, national tenants and part of a regional power center shadow anchored by Target, Best Buy and Ashley Homestore. Additionally, the development is positioned directly next to a Walmart Supercenter. Due to its placement within the larger power center, ownership benefits from minimal daily management responsibilities as the shadow center portion handles all common area maintenance for the entire development, a great attribute for the owners of this featured asset. County Fair Marketplace has just been reduced to $8,855,000, representing a highly-attractive 8% CAP and still offers additional upside through below market rents along with mid-term rental increases. The development sits sandwiched between high-traffic generators Target and Walmart Supercenter has been positioned for great success. County Fair Market Place is occupied with strong, highly recognizable, national tenants, including: ALDI Food Market, PetSmart and Pizza Ranch. ALDI is one of the fastest growing retailers in the U.S. with more than 1,600 stores in 35 states, over 10,000 stores in 20 countries and plans to continue the aggressive U.S. expansion. Over the past decade, the company has nearly doubled in size and by year-end 2018, ALDI will bring its total number of US stores to nearly 2,000, and by 2022 the company is on pace for nearly 2,500 stores. The second anchor to the center, PetSmart, is the largest specialty retailer of services and solutions for pets employs approximately 55,000 associates and operates more than 1,600 stores around the country. The last tenant in the retail development is Pizza Ranch, the largest and most recognized pizza chain in the Midwest. The company has 207 locations in 14 states. All tenants are on long-term leases with ALDI on an original 10-year lease, Pizza Ranch on a 20-year lease (through 2037) and PetSmart (currently under construction) scheduled to open on a new 10-year lease in the coming months. Tenants of County Fair are all on NNN lease structures and reimburse for admin. or management fees. The 60,208 S.F. development was built in 1999 and completely renovated in 2016-2017, including a complete roof replacement in 2018 with 20-year transferable warranty. The center has a fantastic location with high visibility and prominent signage. Located at the main thoroughfare and most traveled roadway in Hutchinson, Highway 15, County Fair Market Place is situated in the heart of the retail corridor. The main thoroughfare boasts numerous complimentary retailers including: Walmart Supercenter, Menard’s, Applebee’s, Great Clips, Dunham’s Sports, JoAnn, Culver’s, AT&T, O’Reilly Auto Parts and many more. Due to the tremendous amount of providers, the area draws from a minimum of 15-20 miles and the next closest Target is close to 40 miles away! Due to its positioning, County Fair Marketplace finds itself centrally located in this regional hub and has become the main shopping destination for Hutchinson as well as numerous surrounding communities. Positioned along Highway 15, the main roadway connects to Highway 7 and Highway 22, both routes to the “Twin Cities,” Minneapolis/St. Paul. The retail destination is located in a strong residential community with average household incomes of approximately $80,000 within 5-miles. Located just 1.5 miles from the featured asset is Hutchinson’s largest employer, 3M with 2,900 employees, which supports 23 divisions and all five business groups, making it the largest plant in the United States. Additionally, across the street from County Fair is Ridgewater College and Hutchinson Health Hospital, creating even more heavy traffic to the center. Ridgewater enrolls 5,500 students with a staff of 350, while Hutchinson Health boasts Over 700 employees and numerous patients that make daily visits to the hospital’s campus. The area’s continued growth can be evidenced through Uponor, Inc. (voted a “Top 20 Minnesota Workplace” along with “2018 Manufacturer of the Year”) recently acquired a 237,000 S.F. manufacturing facility investing $6.35 million to make Hutchinson its home. With the property’s strategic placement along with its proximity to employees and residents; the asset is surely positioned as a high-quality investment for years to come.

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
23.325.0050
Land Assessment
£1,416,090
Improvements Assessment
£2,544,282
Total Assessment
£3,960,372
  • Listing ID: 14887359

  • Date on Market: 16/01/2019

  • Last Updated:

  • Address: 1320 Highway 15 S, Hutchinson, MN 55350

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