Gaylord, MI - Shops on Edelweiss Village

Description:

SRS Multi-Tenant Investments is pleased to present an exceptional opportunity to acquire the fee simple interest (land and building ownership) in Shops of Edelweiss, a distinguished retail center located in Gaylord, Minnesota. This 78% leased property is shadow-anchored by retail giants Walmart and Lowe’s, ensuring a consistent flow of traffic and visibility. The center’s primary anchor, Dollar Tree, has been a long-standing tenant for 20 years and has recently committed to extending its lease through 2034. Similarly, junior anchor Pet Supplies Plus has shown its dedication to the location by exercising a 5-year lease extension. Notably, over 42% of the Gross Leasable Area (GLA) is occupied by tenants with a tenure exceeding a decade, underscoring their strong performance and loyalty to the site. The Shops of Edelweiss hosts a diverse and resilient tenant mix that includes a variety of retailers, dining establishments, and service-oriented businesses. This well-rounded lineup is notably resistant to e-commerce disruption, further enhancing the property’s stability. With 83% occupancy, the center presents significant upside potential for a new owner to capitalize on by leasing the remaining vacancies and unlocking the full value of the asset. Strategically situated between Lowe’s and Walmart, the property enjoys a prime position within the city’s primary retail corridor, drawing the majority of local consumer traffic.

Included in the offering is an outparcel leased to AT&T, which occupies a highly visible site at a signalized hard corner intersection of Edelweiss Parkway and Main Street, with an impressive daily traffic count of 28,900 vehicles. AT&T is currently paying below-market rent, providing the new owner with an excellent opportunity to enhance the parcel’s value through lease renegotiation or re-leasing at market rates.