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Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to exclusively offer for sale the fee-simple interest in a Caribou Coffee located in the Duluth, Minnesota. Caribou Coffee is the dominant coffee chain in Minnesota, with a history of sustained growth and plans for future expansion. The building was recently renovated in 2019 including the conversion of a car wash into a drive-thru. The property is ideally situated at a signaled corner along E Central Entrance, a heavily trafficked state highway. This triple net investment presents a unique opportunity to obtain steady, reliable cash flows from while having minimal management responsibilities with the net lease structure.
- Caribou Coffee is the dominant coffee chain in Minnesota with more locations than Starbucks & Dunkin' Donuts combined
- Duluth is the 2nd largest MSA in Minnesota with ~ 280,000 residents
- The building was completely renovated in 2019, converting a car wash into a drive-thru
- The lease contains a built-in 10% rent bump in 2024, hedging against future inflation
- Duluth is an educational hub, with five universities and ~25,000 students in the area
- The property is located on a major traffic corridor, connecting Duluth's CBD to the retail trade area to the west