San Francisco – CA – (RealEstateRama) — Capital Pacific, a leading retail investment brokerage firm, recently represented the seller of a 3,650 SF Mattress Firm located at 2174 Snelling Avenue N. in Roseville, MN. The property was developed by a Northern California based development firm and sold for $2,500,000 to a private investor.
The new construction, freestanding Mattress Firm is located in the highly desirable Minneapolis-St. Paul MSA and is a pad to the first Target store ever opened. The subject property is ideally situated along a heavily trafficked north-south corridor with traffic counts in excess of 43,000 vehicles per day. The site benefits from excellent visibility and a newly constructed monument sign. The Mattress Firm is on an 11-year net lease, featuring 10% rental increases every five years through the primary term and options.
Mattress Firm is the world’s #1 mattress retailer, and has an S&P credit rating of B+. Mattress Firm has made several major acquisitions in recent years, including Sleep Train in 2014 and Sleepy’s in 2016, growing their footprint and further solidifying their position as the top mattress retailer in the U.S.
Managing partners of Capital Pacific, Zeb Ripple and Chris Kostanecki, represented the seller. Capital Pacific has sold 21 properties where Mattress Firm is the tenant over the past 4 years.
About Capital Pacific
Capital Pacific is a retail-focused investment sales brokerage firm with offices in San Francisco, CA; Portland, OR and Seattle, WA. The company sells single and multi-tenant properties regionally throughout Northern California, and across the US. Capital Pacific has completed over $8.89 billion in retail transactions for both institutional and private clients. www.capitalpacific.com