CLOSED TO NEW INVESTMENT - OVERSUBSCRIBED.
Coming soon...this opportunity will accept up to $7,600,000 of investment and has a targeted return of $13,500,000 by 36 months after we lease it up. There are multiple tenants seeking to leave the downtown area and come out to the suburbs and we are currently reviewing multiple lease opportunities. The targeted return is over 20% per year, net of all fees.
Crest Ridge is one of two Class A+ blocks over 100,000 square feet along the I-394 corridor. Crest Ridge enjoys a $10 - $12 per square foot occupancy cost advantage versus its primary competitor, 10 West End. The I-394 corridor has demonstrated strong office fundamentals in the Twin Cities with average Class A rental rates reaching $21 net at the end of Q2 2020.
Strategically located at the intersection of I-394 and Hopkins Crossroads, Crest Ridge enjoys efficient access throughout the metro area via multiple interstate and highway systems. I-394, I-494, Highway 169, Highway 100, Highway 55, and Highway 7 are all in close proximity enabling tenants at Crest Ridge to draw from multiple labor pools. In addition, Crest Ridge is minutes away from numerous Fortune 500 Companies. These firms are contributing to the recent trend of major firms migrating to single tenant facilities.
Crest Ridge offers an atypical amenity package including climate controlled and covered parking, fitness center with lockers and showers, and a desirous branding and signage opportunity with 100,000 cars passing the project daily. Crest Ridge is one of a select few buildings in the market with LEED Gold Certification. The efficient 33,000 square foot floor plates provide space for tenants to collaborate while maintaining appropriate social distancing measures. The combination of asset quality, location, large block opportunity, corporate neighbors, and potential corporate campus migration make Crest Ridge Corporate Center a compelling acquisition opportunity.
Disclaimer: The information contained herein is for informational purposes only and does not constitute an offer or sale or any form of general solicitation or general advertising of interests in any fund or investment vehicle. Any such offer will only be made in compliance with applicable state and federal securities laws pursuant to offering documents which will be provided to qualified prospective investors upon request. Prospective investors should review the offering documents carefully, which includes important disclosures and risk factors.