Investment Highlights
Hy-Vee Grocery Anchored Shopping Center
39,150 Square Feet of Vacancy (8/11/23)
Frontage on Three City Streets
Stabilized Property with Significant Value Add
Four Pad Site Development Opportunities
Existing High Traffic Count to Increase in 2023 with New Interstate Off Ramp
Executive Summary
Please Download and Complete the Posted Registration, Confidentiality and Non-Disclosure Agreement in order to receive the Offering Memorandum. Contact Todd Blonsley: Email Todd.Blonsley@marcusmillichap.comMarcus & Millichap is pleased to exclusively present Eastside Commons, the premier grocery anchored retail center in Brookings, South Dakota. The rent roll boasts a tremendous variety of tenants who enjoy a location serving residential neighborhoods as well major businesses, such as the 3M Brookings plant (1,000+ employees). This well-maintained retail center is located near Interstate 29, the north/south corridor linking Sioux Falls (55 miles to the south) and Fargo, North Dakota (149 miles to the north). The center is anchored by Hy-Vee Grocery Store, Brookings Municipal Liquor Store and Grifols Biomat Plasma Center. Eastside Commons is home to a mix of national brands and local businesses. This grocery-anchored community center is ideally positioned for businesses entering the marketplace, which makes the ?value add? component of this investment opportunity extremely attractive for savvy retail development/investment groups. As of August 2023, the center is approximately 75.5-percent occupied, making the 39,150 square feet of vacancy a tremendous opportunity for an investor to unlock additional cash flow and increase the asset value. The improvements are situated on 13+ acre parcel that provides multiple pad site development opportunities. A new owner can pursue a variety of options including build-to-suits, ground leasing, or pad site sales.Principal Investors Must Download and Complete the Posted Registration, Confidentiality and Non-Disclosure Agreement in order to receive the Offering Memorandum. Contact Todd Blonsley: Email Todd.Blonsley@marcusmillichap.com
