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Coon Rapids, Minn. — Hanley Investment Group Real Estate Advisors has arranged the sale of a newly constructed, 3,893-square-foot single-tenant retail pad in the Coon Rapids suburb of Minnesota. Fast-casual restaurant Café Zupas occupies the building, which is situated within the Riverdale Commons retail center, on a 10-year, triple-net-lease basis with scheduled rent increases every five years. Founded in 2004, Utah-based Café Zupas currently operates 70 locations across eight states.
Jeff Lefko and Bill Asher of Hanley Investment Group, in association with Robert Wise and Jeff Jiovanazzo of CBRE, represented the seller, TOLD Development Co., in the transaction. New York-based Curbline Properties was the buyer.