753 53rd Ave NE
Fridley, MN 55421

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. 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. Petco currently has over 1,400 locations and is considered to be one of the leading pet supply retailers in the country. Additionally, with the recent drop in interest rates, at an eight percent capitalization rate, this Petco offers well-above market leveraged cash yields. The City of Fridley is conveniently located just ten miles north of Minneapolis. Fridley is home to over 27,000 residents and enjoys the presence of many corporate campuses and manufacturing facilities including Medtronic, Cummins, and BAE Systems.