| Address: |
2106 - 2218 East Lake Street
Minneapolis, MN 55407 |
| Property Management: |
Wellington Management, Inc. |
| Space Availability: |
8,204 sf. - 12,012 sf. |
| Term: |
3 - 5 year minimum |
| Availability: |
Immediately |
| Rental Rates: |
$10.00 - $12.00 per sf. net / $6.00 gross for storage |
| 2012 Estimated Operating Expenses: |
Tax: $3.17
Op Expenses: $3.28
Total: $6.45 |
| Improvements: |
Negotiable |
| Parking: |
Ample surface parking |
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Comments: - Located adjacent to LRT Station, just minutes outside of downtown Minneapolis
- $3.0 million renovation to include new facade, site work and landscaping
- Other retailers include Citi-Trends, Aldi's, Savers, Subway, O'Reilly's Auto Store, Family Dollar and more
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PROPERTY OVERVIEW
Wellington Management, Inc. is one of a handful of developers revitalizing the Lake Street neighborhoods. Hi-Lake Shopping Center, which includes 149,000 square feet of retail space on eight acres, is located directly adjacent to the Lake St./Midtown Hiawatha Line LRT Station. Wellington Management, Inc purchased the shopping center in September 2004 and immediately began a $3,000,000 renovation which included a new canopy, facade, storefronts, parking lot and landscaping among other improvements. The Hi-Lake Shopping Center has been a part of the community for over 50 years. Aldi's, Family Dollar, Savers Department Store, O'Reilly's Auto Store and the new arrival of Citi-Trends help to anchor this lively and budding retail center as it flourishes in the revitalization of Lake Street and the excitement of the new mass transit system. Our investment in the Lake Street Community has expanded with Corridor Flats, a 36 unit condominium project above the Aldi's Grocery. WELLINGTON MANAGEMENT INC., continues to provide all leasing and property management services for this property.
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