4602 Grand Ave
Duluth, MN 55807
Denfeld Retail Center · Retail Property For Sale

Marcus and Millichap is pleased to present for sale, Denfeld Center, a 37,770 square foot center with excellent visibility on Duluth’s busy Grand Avenue, which carries 13,000 vehicles per day. The Property benefits from its close proximity to many traffic drivers in the immediate area including Menards, Denfeld High School, Walgreens and CVS. Additionally, there is dense single-family residential that sits adjacent to the Property. Denfeld Center is 73% leased, offering an investor the opportunity to add value through the lease up of the vacant space. The rent roll has a mix of national and local tenants with staggered lease expirations. Average rent at the center is currently $13.00 per square foot, leaving an investor more upside through rent growth. Duluth is a port city on Lake Superior, accessible for ships from the Atlantic Ocean, and handling over 1,100 visits from domestic and international vessels. Duluth is a major regional center for health care, business, and higher education. The city is home to multiple colleges and universities; the most notable is the University of Minnesota – Duluth, which carries a total enrollment of approximately 10,300 students. Duluth, together with the city of Superior, Wisconsin, make up the biggest portion of the Twin Ports Metropolitan Area. The total metro area has population of roughly 280,000 residents.