Office Depot | Mankato, MN

Description:

Long Term Tenant –
Office Depot/OfficeMax has operated at this location for many years. The tenant has approximately two (2) years remaining on the current lease term, followed by four (4) five-year renewal options with scheduled rent increases in each option period and limited landlord responsibilities.

Adjacent to Top-Performing Hy-Vee Grocery Anchor –
The property is located next door to a high-performing Hy-Vee grocery store, ranked in the 96th percentile nationwide and the top location in Minnesota according to Placer.ai.

Dominant Retail Corridor –
Strategically positioned within Mankato’s primary retail corridor near the heavily trafficked junction of Highways 14 and 22, the property benefits from exceptional visibility and accessibility. The surrounding trade area includes a strong lineup of national retailers such as Target, Walmart, Sam's Club, Best Buy, and many others.

Established Regional Market –
Located in Mankato, the property benefits from the city’s role as a regional hub for south-central Minnesota and northern Iowa, serving approximately 1.6 million people within a 60-mile radius. Mankato is home to Minnesota State University, Mankato, the second-largest university in the state by enrollment.

Strong Market & Demographics –
The Mankato–North Mankato MSA has a population of just over 100,000 residents with steady historical growth. The population within a 10-mile radius exceeds 75,000, with average household incomes above $90,000. Key employment sectors include manufacturing, education, and healthcare.

Experienced Industry Ownership –
Atlas Holdings — Office Depot’s new private equity owner as of December 2025 — and its affiliates comprise a diversified group of 27 manufacturing and distribution businesses, including many in paper and packaging, bringing sector-specific expertise that aligns with Office Depot’s core product mix.

Mankato is located in southern MN, about 80 miles south and west of the Twin Cities. Mankato is located along the Minnesota River and is located across the River from North Mankato. The broader Mankato–North Mankato metropolitan area has a population of over 100,00 and has a consistently growing population. The community serves as an economic and shopping hub for a large surrounding area in southern Minnesota and Northern Iowa.

Residents enjoy a personal level of safety due to a low crime rate and a lower cost of living than the national average. The local economy has a mix of commercial, industrial, and agricultural. Major employers in the community include the school district, Mayo Health System, CHS, Inc., and Minnesota State University, Mankato. Minnesota State University, Mankato, has a student population of over 14,000, and in addition to Mankato State, the community is also home to South Central College, Bethany Lutheran College, and Rasmussen University.

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