Investment Highlights
This property is leased to a single tenant on a NNN ground lease, which leaves no responsibilities for the Landlord
The site is ideally situated on the signalized intersection of 114th St and Forest Ave
The property is located less than a quarter-mile from I-35, which carries over 54,000 vehicles per day in the area
Upon the exercise of the tenant's next option in January of 2028, rent will increase by 20%
Within a three-mile radius, the average household income is $122,000, 14% higher than the national average
Executive Summary
Jones Lang LaSalle Americas, Inc. (?JLL?), is pleased to exclusively offer for sale the fee-simple interest in Bakers Square (the ?Property?) located at 1310 NW 114th St in Clive, Iowa, just outside of downtown Des Moines. This single tenant ground lease asset is 100% occupied by Bakers Square, who is paying just $11.25/SF in rent on the building and just $1.05/SF in rent on the land. With below-market rents and a 20% a rent escalation occurring upon the tenants' option to renew in January 2028, the investment is primed for a boost in income upon expiration of the current term.The site is ideally situated in the signalized intersection of 114th St and Forest Ave and is highly visible from both roadways. The property also benefits from its proximity to both I-35 and I-235, which carry 54,000 VPD and 45,000 VPD per day in the area, respectively. Within the immediate trade area, there are numerous traffic drivers, including brand-name retail tenants such as Target and Lowe's, as well as other complementary traffic drivers such as the The Iowa Clinic and 18 hotels.Within a three-mile radius, the average household income is $122,000, 14% higher than the national average. Within a one, three, and five mile radius, both population and average household income are projected to grow over the next 5 years. In addition to the strength of the submarket, the greater Des Moines metropolitan area supports nearly 750,000 residents and is also expected to have steady population and income growth over the next five years.
