Coon Rapids, Minn. — Hanley Investment Group Real Estate Advisors has arranged the sale of a new single-tenant building occupied by Raising Cane’s Chicken Fingers in Coon Rapids, Minnesota, for $5 million.
The 2,780-square-foot building is located at 13001 Round Lake Blvd. Raising Cane’s has a new 15-year lease term. Jeff Lefko and Bill Asher of Hanley represented the seller, OneCore Global. Mehdi Star of Colliers International represented the buyer, a San Francisco-based private investor. The sales price represents a cap rate of 6 percent. This was the highest-priced Raising Cane’s to trade in the Midwest, according to Hanley.