| Rent 36% Below New Caribou Locations – In-place rent of $85,900 sits well below the ~$135,000 average at newer Caribou stores |
| Early Lease Extension Signals Store Strength – Despite six years still remaining on the base term, the tenant exercised their first 5-year option |
| Two 10% Increases Over Next 6 Years – Unlike most deals with 11 years remaining, this lease features two 10% rent increases occurring in 2029 and 2032 |
| Corporate Lease with a National Coffee Operator – The lease is guaranteed by Caribou Coffee, a large, creditworthy operator with 800+ locations |
| 90-Minute Drive from Corporate Headquarters – Situated within a 90-minute drive of Caribou’s global headquarters in the Twin Cities |
| Flagship “Cozy Café” Format – Features Caribou’s signature sit-down Cozy Café concept—designed for longer dwell times, repeat customers |
Joe Polak
Matthews Real Estate Investment Services
