720 Commons Rd
Woodbury, MN 55125
Commons Plaza · Retail Property For Sale

The offering provides an opportunity to acquire Woodbury Center, a five tenant strip center located in the affluent Minneapolis suburb of Woodbury, MN. The subject property is currently under construction with a target delivery of April 2019. The property is anchored by Raising Cane’s on a new 15-year lease and Sleep Number on a new 10-year lease, and features internet-resistant retailers including doggy day care & veterinarian and wellness. All leases include rent escalations every five years and multiple 5-year options to extend the leases. The location is on a hard corner at the entrance to Woodbury’s main retail hub and benefits from over 24,000 vehicles per day. Directly across the street is the city’s largest shopping center, Tamarack Village, anchored by Aldi, CVS, Home Depot, and Cabela’s. Additionally, just behind the subject property is CityPlace, a newly constructed, 100-acre retail/mixed-use neighborhood dubbed “the mall of the future”. CityPlace features a lively tenant mix including Whole Foods and Nordstrom Rack. Directly south of the property is the vast majority of residential housing in Woodbury, making its location ideal.