Hobby Lobby & PetSmart | Great Falls
Listing was updated at: 05/08/2019
Property Overview
Price/Rent PSF $ 9,981,000.00
Asset Type Retail
Trade Type Sale
SQ. FT. Available 72,509
Date Available 05/08/2019
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Description

Location
Location contains Hobby Lobby and PetSmart in Great Falls.

Sale
Sterling CRE Advisors is pleased to co-list this property with CBRE. This property is an excellent opportunity to acquire fee simple interest in a 72,509-square foot property located in Great Falls, MT. The Property is 93% leased by two strong national retailers, Hobby Lobby and PetSmart. Both tenants have over 8 years of term remaining. Hobby Lobby’s net lease includes two 5-year renewal options and $0.50 PSF rental increases throughout the base term and renewal options. PetSmart has three 5-year options and 10% rental increases throughout the base term and renewal options.

Hobby Lobby and PetSmart are located within a big box component of Holiday Village mall, the dominant and only enclosed regional mall located on the Interstate 15 corridor between Helena, Montana and the Canadian border. The 576,897-square foot mall is anchored by Scheels and JCPenney. Additional big box retailers at the mall include Ross Dress for Less, Bed Bath & Beyond, Big Lots and a new Harbor Freight Tools. As the primary regional hub of retail activity, Holiday Village Mall serves an expansive trade area and is the only source of retail within a 90-mile radius. There are approximately 196,000 residents within a 90-mile radius from the Property.

Hobby Lobby and PetSmart are well positioned at the malls primary signalized entrance and highly visible from 10th Avenue South, a major east-west thoroughfare (36,200 VPD). Hobby Lobby and PetSmart can is also easily accessible from the surrounding access points on 13th Street South, 13th Avenue South, and 9th Street South (Combined Traffic Counts: 18,198 VPD).

Scheels: CBRE’s Net Lease Property Group is pleased to exclusively present the excellent opportunity to acquire fee simple interest in a 99,279-square foot Scheels located in Great Falls, Montana. The net lease has just under eight years of term remaining, six 5-year options, and rental increases throughout the base term and renewal options.

Scheels anchors Holiday Village Mall, the dominant and only enclosed regional mall located on the Interstate 15 corridor between Helena, Montana and the Canadian border. The 576,897-square foot mall is also anchored by JCPenney. Holiday Village Mall contains a big box component leased to Ross Dress for Less, Bed Bath & Beyond, Big Lots, Hobby Lobby, PetSmart and a new Harbor Freight Tools. As the primary regional hub of retail activity, Holiday Village Mall serves an expansive trade area and is the only source of retail within a 90-mile radius. There are approximately 196,000 residents within a 90-mile radius from the Property.

Scheels is well positioned at the malls primary signalized entrance and highly visible from 10th Avenue South, a major east-west thoroughfare (36,200 VPD). Scheels is also easily accessible from the surrounding access points on 13th Street South, 13th Avenue South, and 9th Street South (Combined Traffic Counts: 18,198 VPD).

Location