April 24, 2020 – Matt Nadler of Horvath & Tremblay has successfully completed the sale of Portillo’s in Roseville, Minnesota. Horvath & Tremblay represented the buyer in the transaction at a sale price of $4,700,000.
Portiillo’s is located at 1800 County Road B2 W in Roseville, Minnesota. The stand-alone building was constructed in 2018 and contains 7,459 square feet on a 1.285 acre parcel of land. The lease has 18.5 years remaining on an Absolute Triple-Net Ground Lease with an additional four (4) 5-Year Options. The lease features 10% rent increases every five years throughout the base term and at the start of each renewal period. Portillo’s is well located along the perimeter of the Rosedale Center, a 1.2 million square foot shopping center featuring 160 retailers. The site also has outstanding traffic counts in excess of 38,700 vehicles per day, and close proximity to the intersection of Interstate 35W and Highway 36. The property is further enhanced by the demographics of the trade area, with more than 11 colleges and a total enrollment in excess of 140,000 students all within 10 miles of the property.
Horvath & Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in the United States. Our advisors specialize in the sale of single tenant net-lease assets and retail shopping centers. They have experience successfully structuring sale lease-back programs, portfolio dispositions, and 1031 exchanges. Horvath & Tremblay is dedicated to being the best source of information and expertise in the marketplace for private investors, developers, institutions, and industry professionals.