Freestanding For Sale
15,240 Sq Ft
CBRE is pleased to offer for sale the Petco in Fridley, Minnesota. The property consists of a 15,240 square foot building on 1.97 acres located at the intersection of Interstate 694 and Central Avenue (Highway 65). This intersection carries combined traffic counts of more than 160,000 vehicles every day. Super Target anchors this Petco, which also benefits from its proximity to Medtronic’s operational headquarters which are located just on the other side of I-694. This adjacent Target location was one of twenty-eight Twin Cities sites identified by Target Corporation for a major store remodel, indicating the organization’s confidence in the strength of this retail trade corridor.
Petco originally signed a lease for fourteen years and extended early in 2012 for an additional four years and eight months. The lease is double net requiring minimal landlord responsibilities and has healthy 10 percent rental increases in each of their two remaining options.