Jones Lang LaSalle Americas, Inc. ("JLL"), is pleased to exclusively offer for sale the fee-simple interest in ALDI located at 3018 Pasque Flower Pl, Brookings, SD 57006. This 19,631 SF grocery store sits on 2.83 acres and is secured by a long-term absolute NNN ground lease extending through November 2045.
This investment opportunity offers investors a truly passive ownership experience through its absolute NNN ground lease structure, where ALDI, America's fastest-growing grocer backed by one of the world's wealthiest families, handles all operational aspects and property expenses. The lease provides built-in rent escalations of 10% every five years, with current annual income of $127,000 and six additional five-year renewal options that could extend the tenancy through 2075.
Brookings represents an exceptional market for grocery retail, with ALDI enjoying prime positioning as the first retailer to open at Brookings Marketplace, a brand-new 18.53-acre Target-anchored development at the intersection of US Highway 14 and I-29. The store benefits from exceptional visibility and access along one of South Dakota's primary north-south interstate corridors, with over 13,000 vehicles passing the site daily and direct frontage on both regional and local traffic patterns. Target, along with Kwik Star and Les Schwab Tire Center, solidify this location as the region's premier retail hub.
As a city of over 27,000 residents within five miles and home to South Dakota State University with record enrollment exceeding 12,000 students, Brookings maintains economic stability through its diversified base of advanced manufacturing, agricultural technology, healthcare, research and development, and retail sectors. ALDI ranked as the #2 most-requested retailer by Brookings residents in community surveys in both 2019 and 2024, demonstrating a decade of documented consumer demand that existed years before the store even opened. South Dakota's tax environment, with zero state income tax, makes this one of the most tax-advantaged ownership opportunities in the country.
Please refer to the OM for more information on this investment opportunity.