20191 Iberia Ave
Lakeville, MN 55044

Marcus and Millichap exclusively presents the opportunity to acquire a US Bank ground lease in Lakeville, MN. The property is a 2.34 Acre parcel ground lease with US Bank as the operating tenant on the site. The building was constructed in 2000. US Bank originally signed a 10-year lease and recently signed an early 10-year extension showing their commitment to the site. The lease is a true NNN ground lease with no landlord responsibilities. Current deposits at this location are reported to be $78 Million, which is more than double what they were in 2012. The property benefits from being well-positioned at a busy intersection and is an outparcel to a Cub Foods anchored retail center. In addition, it is in close proximity to downtown Lakeville and Airlake Industrial Park, one of the state’s largest contiguous industrial parks, totalling 1,500 acres. Lakeville is a rapidly growing suburb of Minneapolis and Saint Paul. The suburb has experienced consistent population growth year-over-year, averaging an additional 1,000 citizens per year. U.S. Bancorp (NYSE: USB) is headquartered in Minneapolis, MN. It is currently the 7th largest bank in the United States with an estimated $445 Billion in assets. The lease is corporately guaranteed with some of the strongest ratings in the market: Moody’s – A1 and S&P A+.