Cushman & Wakefield Retail Investment Advisors present 12 West Marketplace (the Property), an 82,911 square foot grocery anchored center in Litchfield, Minnesota, located within a Qualified Opportunity Zone. The property is 99% occupied with incredible mark-to-market opportunity, as average base rents across the center are only $4.60psf. Sitting on 8.28 acres with phenomenal visibility to Highway 12, the asset is positioned along a primary thoroughfare between the Twin Cities (Minneapolis & Saint Paul), and the vacation communities of central & western Minnesota.
The Property’s grocery anchor, Family Fare, is a SpartanNash brand (NASDAQ: SPTN), and one of 147 corporate SpartanNash locations. Besides Walmart, there is not another full-service grocer within 15 miles of the asset. It is a weekly destination not only for those who live in the immediate area, but also those vacationing at lakeside estates near Litchfield, and further west.