1861 Adams St
Mankato, MN 56001
Adams Street Shops · Retail Property For Sale

CBRE is pleased to present Adams Street Shops located in Mankato, Minnesota, home to Mankato State University (15,000 students). The subject property is a 12,988 square foot retail center completed in 2018. The Property benefits from its convenient location, great visibility and easy access from the signalized intersection of Sioux Avenue and Adams Street, directly across from the main entrance to the River Hills Mall: a 700,000 square foot regional shopping center anchored by Target. In addition to already being the dominant retail trade area, Adams Street Shops is situated in the heart of a recent burst of new development and construction activity. Surrounding new developments include: Connect Commons, a mixed retail development with 50 micro apartments; the Pillars of Mankato, a 118 bed residential care facility slated for delivery in 2019; and Ohana Apartments, a 71 unit complex slated for delivery in 2019. Adams Street Shops is 100% occupied with the majority of the center occupied by national brands, Sleep Number and Buffalo Wings & Rings, both of which carry strong guaranties and provide an investor immediate stability. All tenants at the center operate under net leases, leaving the investor with minimal exposure to expense slippage. Lease expirations are also staggered, giving a hedge against lease roll over risk.