Doddway Shopping Center

Highlights:

• Significant Value-Add Opportunity - This property provides flexibility for an investor to implement a comprehensive lease-up strategy
• Offered Well Below Replacement Cost - Acquire this well-located retail asset at a price point substantially lower than current construction costs
• Intersection & Access Advantage - Positioned at a signalized intersection & dedicated turn lanes, the property boasts the “hard corner” infrastructure
• Gateway to Downtown St. Paul - Located just 2.5 miles from downtown St. Paul, the site acts as a key thoroughfare node
• Redevelopment Optionality - The site’s footprint and zoning flexibility make it an ideal candidate for long-term “highest and best use” strategies
• Proven High-Density Trade Area - The site captures a massive, established residential customer base with over 107,000 high income households in 3-mile

Description:

CBRE is pleased to exclusively present the opportunity to acquire Doddway Shopping Center (the “Property”), a compelling value-add retail investment located at 374 Bernard Street West in West Saint Paul, Minnesota. Situated on approximately 3.0 acres at the highly visible intersection of Smith Ave S and Dodd Road, the Property consists of a 38,000-square-foot neighborhood shopping center strategically positioned just 2.5 miles south of Downtown Saint Paul.

For decades, Doddway Shopping Center served as a dominant neighborhood retail destination anchored by Oxendale’s Market. Following the recent closure of the grocery store, the Property now offers investors a rare opportunity to acquire a professionally maintained retail asset at a significant discount to replacement cost with immediate flexibility to execute a comprehensive repositioning, lease-up, or long-term redevelopment strategy.

Currently approximately 10% occupied, Doddway Shopping Center represents a true blank canvas. Unlike many value-add retail investments burdened by legacy leases, the Property allows a new owner to immediately reimagine the tenant mix, modernize the physical improvements, or pursue a higher-and-better-use redevelopment without significant lease constraints. Whether repositioned as a modern neighborhood shopping center, converted to a service-oriented retail or medical destination, or incorporated into a future mixed-use redevelopment, the Property offers exceptional optionality in one of the Twin Cities’ most established infill locations.

The surrounding trade area provides a strong foundation for future investment. More than 313,000 residents live within a five-mile radius, including nearly 107,000 residents within three miles, providing an exceptional built-in customer base for future retail users. The Property benefits from its location along the Smith Avenue corridor, one of the primary north-south routes connecting West Saint Paul with Downtown Saint Paul, while also serving the surrounding residential neighborhoods that have supported the center for generations.

Adding to the long-term investment thesis, the Property is located within the City’s Smith/Dodd Small Area Plan, which identifies the intersection as a gateway redevelopment district and envisions continued investment through infrastructure improvements, enhanced pedestrian connectivity, and future mixed-use development. Recent public investment in the realignment of the Smith/Dodd intersection further reinforces the City’s long-term commitment to this corridor and enhances the area’s redevelopment potential.

Doddway Shopping Center presents investors with a rare combination of below-replacement-cost basis, exceptional redevelopment flexibility, strong underlying demographics, and significant long-term upside. Opportunities to acquire infill retail properties of this scale with immediate repositioning potential are increasingly scarce throughout the Twin Cities metropolitan area, making Doddway Shopping Center a compelling opportunity for value-add investors, developers, and long-term capital seeking to unlock the full potential of a well-located retail asset.

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