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4500 Excelsior Blvd
St Louis Park, MN 55416 Wolfe Park

$7,400,000 USD

Apartments Condo For Sale  •  13,740 SF

Property Details

  • Property Type Apartments
  • Total Building Size 108,600 SF
  • Lot Size 1.14 AC
  • Building Class B
  • Year Built 2005
40 Transit Score
70 Walk Score

1 Unit Available

Name Condo Use Size Price Details
1st Floor - Unit C1 & C2 Retail 13,740 SF $7,400,000 USD
  • Unit Size: 13,740 SF
  • Condo Use: Retail
  • Price: $7,400,000 USD
  • Sale Type: Investment
  • Price/SF: $538.57 USD
Sale Notes
Jones Lang LaSalle Americas, Inc. ("JLL"), is pleased to exclusively offer for sale the fee-simple interest in Trader Joe's located at 4500 and 4590 Excelsior Blvd in St. Louis Park, Minnesota. The 13,740 SF building will be leased through January 2032 with four additional 5-year renewal options extending potential occupancy through 2052.

Trader Joe's is one of fewer than 640 locations in America and has been continuously operated at this site since January 2005, demonstrating over 20 years of uninterrupted occupancy and strong operational performance. The property sits on a hard corner at the signalized intersection of Excelsior Blvd & Monterey Dr, with 20,250 VPD on Excelsior, and benefits from proximity to Highway 100, which carries 116,000 VPD. The site is strategically positioned within one of the Twin Cities' most retailer-dense corridors, with immediate neighbors including Target, LA Fitness, CVS, Chase Bank, Chipotle, and Starbucks.

In the surrounding area, the property is directly beneath the Excelsior & Grand Condominiums and surrounded by multiple multifamily complexes, creating a captive, walkable customer base. Within a 3-mile radius, average household income exceeds $150,000, nearly 30% higher than the national average, and 66% of adults in SLP hold a bachelor's or graduate degree. St. Louis Park has experienced nearly 10% population growth since 2010.

Please see OM for more information.

Highlights

Trader Joe's has operated continuously at this location since January 2005 and recently executed a 5-year lease extension through January 2032
Situated in one of the Twin Cities' most supply-constrained retail corridors surrounded by major national retailers (Target, LA Fitness, etc.)
Directly beneath and adjacent to Excelsior & Grand Condominiums and multiple multifamily complexes that create a walkable customer base
Located a half-mile from Highway 100 (116,000 VPD) and benefiting from the upcoming 2027 METRO Green Line Extension ($2.9 billion project)
3-mile trade area features average household income exceeding $150,000 and per capita income over $50,000, both ~30% above national averages
Positioned 15 minutes from downtown Minneapolis, capturing the advantages of major supply chains and market exposure while avoiding downtown pricing

Amenities

  • Air Conditioning
  • Balcony
  • Courtyard
  • Fireplace
  • Fitness Center
  • Heating
  • Breakfast/Coffee Concierge
  • Gameroom
  • Grill
  • Guest Apartment
  • On-Site Retail
  • Package Service
  • Wi-Fi
  • Granite Countertops
  • Hardwood Floors
  • Elevator
  • Multi Use Room
  • Breakfast Nook
  • Dining Room
  • Wheelchair Accessible (Rooms)

Public Transportation

Commuter RailDriveWalkDistance
Target Field Station (Northstar Corridor - Northstar Commuter Rail) 13 min - 7.3 mi
AirportDriveWalkDistance
Minneapolis-St Paul International/Wold-Chamberlain 23 min - 13.7 mi

Parking Details

Parking Available: Yes
Reserved: No
Spaces Provided: 30
Type: Surface
Included in Rent: Yes
Matt Hazelton 612-396-7723 JLL
Matt Hazelton 612-396-7723 JLL