1470 Twixt Town Rd, Marion, IA 52302

Suite	Space Type	Pricing	Size
---	Retail Space	For sale: Contact for Pricing	167,864 sqft
INDICATIVE BIDS DUE 06/09/2017 Transaction Timeline 6/09/2017 - Indicative bid due date 6/12/2017 - Notice provided to final round bidders 6/16/2017 - $100,000 refundable bidder deposit due to escrow (wire only) 6/28/2017 - Best and final auction date 6/28/2017 - Purchase and sale agreement signed 6/29/2017 - Earnest money deposit posted to escrow 7/29/2017 - Close of Escrow – TBD Property tours are available on 5/17 and 5/31 from 9AM - noon. Please contact Ryan Jensen to schedule at ryan.jensen@cbre-hubbell.com or 515-280-2067. Investment Highlights: ±167,864 SF retail center with ±97% occupancy in prime retail hub of Iowa’s second largest city Anchored by Michael’s, Pier 1, Party City, West Music and local Theater Value-add through lease up of the available ±5,000 SF at market rates In-place NOI of approximately $1.43 million which is comprised primarily long-term tenants Stabilized investment opportunity with solid history of long-term occupancy In-place rents are currently below market, creating the opportunity to improve rates and term Marion, IA is one of the Midwest’s fastest growing cities and one of the youngest per capita Investment Overview: Collins Road Square, (the “Property”) is an upscale regional shopping center situated in the heart of Cedar Rapids/Marion biggest retail hub. Located at 1380–1470 Twixt Town Road NE in Marion, IA, Collins Road Square is a ±167,864 SF retail shopping center on 13.41 AC with 848 parking spaces consisting of 2 buildings and anchored by Michael’s, Party City and others. Built in 1984 and renovated in 1994, the Property is situated just west of the busiest intersection in Linn County with traffic counts in excess of 25,000 vehicles per day. Recently announced, construction will be completed on Collins Road that will widen the roadway and allow for a pedestrian friendly crossing between Lindale Mall and the Property. These road improvements will significantly benefit Collins Road Square by allowing increased and safer traffic between the numerous retail centers in the area as traffic in the area is expected to double to 52,000 vehicles per day by 2030. The Property is currently ±97% leased to a mix of national and regional retailers. In-place tenants currently have a weighted lease expiration of 4.11 years providing for a relatively stable investment opportunity. Co-tenants include Pier 1, Michael's, Collins Road Theaters, Ann Taylor LOFT, Party City, David's Bridal, Half-Price Books, West Music, Brown's Shoe Fit and more. The offering includes the following anchor tenants: Michael’s Stores (±24,324 SF), Collins Road Theaters (±17,843 SF), Pier 1 (±10,800 SF), West Music (±13,772 SF) and Party City (±21,495 SF). Confirming the long term strength of the Property, Party City recently signed an 11 year lease with a significant rent escalation in year 3 and three 5 year option periods. Michael’s is the Property’s largest tenant and has been a long term tenant since 1986, confirming their commitment to the Property and the location’s importance to their business. The Property benefits from retail traffic drawn to Lindale Mall and other national big box retailers in this dynamic regional retail hub. Collins Road Square is opposite Lindale Mall, a 700,000 SF enclosed regional shopping center. Other national retailers in the immediate area include Best Buy, PetSmart, Petco, Kohl’s, Home Depot and Dick’s Sporting Goods among numerous other national and regional retailers. Within a 5-mile radius Collins Road Square serves ±126,000 people and ±52,213 households with average household incomes of ±$81,620. Marion, IA is one of the Midwest’s fastest growing cities and one of the youngest per capita. Marion is located in Linn County, and is part of the Cedar Rapids Metropolitan Statistical Area. Cedar Rapids is the second largest city in Iowa (Des Moines is #1) and is located in Linn County. Grain processing/manufacturing is the largest industry in Cedar Rapids. Cedar Rapids also boasts several large company headquarters including Rockwell Collins (avionics), CRST (trucking) and TransAmerica (financial/investment/insurance). Click here to view an Aerial Tour of the Property « show less INDICATIVE BIDS DUE 06/09/2017 Transaction Timeline 6/09/2017 - Indicative bid due date 6/12/2017 - Notice provided to final round bidders 6/16/2017... show more » View Details on Ten-x.com INDICATIVE BIDS DUE 06/09/2017 Transaction Timeline 6/09/2017 - Indicative bid due date 6/12/2017 - Notice provided to final round bidders 6/16/2017 - $100,000 refundable bidder deposit due to escrow (wire only) 6/28/2017 - Best and final auction date 6/28/2017 - Purchase and sale agreement signed 6/29/2017 - Earnest money deposit posted to escrow 7/29/2017 - Close of Escrow – TBD Property tours are available on 5/17 and 5/31 from 9AM - noon. Please contact Ryan Jensen to schedule at ryan.jensen@cbre-hubbell.com or 515-280-2067. Investment Highlights: ±167,864 SF retail center with ±97% occupancy in prime retail hub of Iowa’s second largest city Anchored by Michael’s, Pier 1, Party City, West Music and local Theater Value-add through lease up of the available ±5,000 SF at market rates In-place NOI of approximately $1.43 million which is comprised primarily long-term tenants Stabilized investment opportunity with solid history of long-term occupancy In-place rents are currently below market, creating the opportunity to improve rates and term Marion, IA is one of the Midwest’s fastest growing cities and one of the youngest per capita Investment Overview: Collins Road Square, (the “Property”) is an upscale regional shopping center situated in the heart of Cedar Rapids/Marion biggest retail hub. Located at 1380–1470 Twixt Town Road NE in Marion, IA, Collins Road Square is a ±167,864 SF retail shopping center on 13.41 AC with 848 parking spaces consisting of 2 buildings and anchored by Michael’s, Party City and others. Built in 1984 and renovated in 1994, the Property is situated just west of the busiest intersection in Linn County with traffic counts in excess of 25,000 vehicles per day. Recently announced, construction will be completed on Collins Road that will widen the roadway and allow for a pedestrian friendly crossing between Lindale Mall and the Property. These road improvements will significantly benefit Collins Road Square by allowing increased and safer traffic between the numerous retail centers in the area as traffic in the area is expected to double to 52,000 vehicles per day by 2030. The Property is currently ±97% leased to a mix of national and regional retailers. In-place tenants currently have a weighted lease expiration of 4.11 years providing for a relatively stable investment opportunity. Co-tenants include Pier 1, Michael's, Collins Road Theaters, Ann Taylor LOFT, Party City, David's Bridal, Half-Price Books, West Music, Brown's Shoe Fit and more. The offering includes the following anchor tenants: Michael’s Stores (±24,324 SF), Collins Road Theaters (±17,843 SF), Pier 1 (±10,800 SF), West Music (±13,772 SF) and Party City (±21,495 SF). Confirming the long term strength of the Property, Party City recently signed an 11 year lease with a significant rent escalation in year 3 and three 5 year option periods. Michael’s is the Property’s largest tenant and has been a long term tenant since 1986, confirming their commitment to the Property and the location’s importance to their business. The Property benefits from retail traffic drawn to Lindale Mall and other national big box retailers in this dynamic regional retail hub. Collins Road Square is opposite Lindale Mall, a 700,000 SF enclosed regional shopping center. Other national retailers in the immediate area include Best Buy, PetSmart, Petco, Kohl’s, Home Depot and Dick’s Sporting Goods among numerous other national and regional retailers. Within a 5-mile radius Collins Road Square serves ±126,000 people and ±52,213 households with average household incomes of ±$81,620. Marion, IA is one of the Midwest’s fastest growing cities and one of the youngest per capita. Marion is located in Linn County, and is part of the Cedar Rapids Metropolitan Statistical Area. Cedar Rapids is the second largest city in Iowa (Des Moines is #1) and is located in Linn County. Grain processing/manufacturing is the largest industry in Cedar Rapids. Cedar Rapids also boasts several large company headquarters including Rockwell Collins (avionics), CRST (trucking) and TransAmerica (financial/investment/insurance). Click here to view an Aerial Tour of the Property Pricing: Contact for Pricing Availability: Now Listing ID: 1079813 Save to list

Retail Space

For sale: Contact for Pricing

167,864 sqft

INDICATIVE BIDS DUE 06/09/2017 Transaction Timeline 6/09/2017 - Indicative bid due date 6/12/2017 - Notice provided to final round bidders 6/16/2017 - $100,000 refundable bidder deposit due to escrow (wire only) 6/28/2017 - Best and final auction date 6/28/2017 - Purchase and sale agreement signed 6/29/2017 - Earnest money deposit posted to escrow 7/29/2017 - Close of Escrow – TBD Property tours are available on 5/17 and 5/31 from 9AM - noon. Please contact Ryan Jensen to schedule at ryan.jensen@cbre-hubbell.com or 515-280-2067. Investment Highlights: ±167,864 SF retail center with ±97% occupancy in prime retail hub of Iowa’s second largest city Anchored by Michael’s, Pier 1, Party City, West Music and local Theater Value-add through lease up of the available ±5,000 SF at market rates In-place NOI of approximately $1.43 million which is comprised primarily long-term tenants Stabilized investment opportunity with solid history of long-term occupancy In-place rents are currently below market, creating the opportunity to improve rates and term Marion, IA is one of the Midwest’s fastest growing cities and one of the youngest per capita Investment Overview: Collins Road Square, (the “Property”) is an upscale regional shopping center situated in the heart of Cedar Rapids/Marion biggest retail hub. Located at 1380–1470 Twixt Town Road NE in Marion, IA, Collins Road Square is a ±167,864 SF retail shopping center on 13.41 AC with 848 parking spaces consisting of 2 buildings and anchored by Michael’s, Party City and others. Built in 1984 and renovated in 1994, the Property is situated just west of the busiest intersection in Linn County with traffic counts in excess of 25,000 vehicles per day. Recently announced, construction will be completed on Collins Road that will widen the roadway and allow for a pedestrian friendly crossing between Lindale Mall and the Property. These road improvements will significantly benefit Collins Road Square by allowing increased and safer traffic between the numerous retail centers in the area as traffic in the area is expected to double to 52,000 vehicles per day by 2030. The Property is currently ±97% leased to a mix of national and regional retailers. In-place tenants currently have a weighted lease expiration of 4.11 years providing for a relatively stable investment opportunity. Co-tenants include Pier 1, Michael's, Collins Road Theaters, Ann Taylor LOFT, Party City, David's Bridal, Half-Price Books, West Music, Brown's Shoe Fit and more. The offering includes the following anchor tenants: Michael’s Stores (±24,324 SF), Collins Road Theaters (±17,843 SF), Pier 1 (±10,800 SF), West Music (±13,772 SF) and Party City (±21,495 SF). Confirming the long term strength of the Property, Party City recently signed an 11 year lease with a significant rent escalation in year 3 and three 5 year option periods. Michael’s is the Property’s largest tenant and has been a long term tenant since 1986, confirming their commitment to the Property and the location’s importance to their business. The Property benefits from retail traffic drawn to Lindale Mall and other national big box retailers in this dynamic regional retail hub. Collins Road Square is opposite Lindale Mall, a 700,000 SF enclosed regional shopping center. Other national retailers in the immediate area include Best Buy, PetSmart, Petco, Kohl’s, Home Depot and Dick’s Sporting Goods among numerous other national and regional retailers. Within a 5-mile radius Collins Road Square serves ±126,000 people and ±52,213 households with average household incomes of ±$81,620. Marion, IA is one of the Midwest’s fastest growing cities and one of the youngest per capita. Marion is located in Linn County, and is part of the Cedar Rapids Metropolitan Statistical Area. Cedar Rapids is the second largest city in Iowa (Des Moines is #1) and is located in Linn County. Grain processing/manufacturing is the largest industry in Cedar Rapids. Cedar Rapids also boasts several large company headquarters including Rockwell Collins (avionics), CRST (trucking) and TransAmerica (financial/investment/insurance). Click here to view an Aerial Tour of the Property « show less

INDICATIVE BIDS DUE 06/09/2017 Transaction Timeline 6/09/2017 - Indicative bid due date 6/12/2017 - Notice provided to final round bidders 6/16/2017... show more »

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1470 Twixt Town Rd, Marion, IA 52302

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