DEALS

Deals

Westgate Commons – West Fargo, ND

THE OPPORTUNITY

  • Premier shopping destination in the market
  • Strong National Credit Tenants: TJ Maxx, HomeGoods, Five Below, Maurice’s
  • Recent Leasing Momentum: 
  • Five Below recently signed lease at Westgate Commons
  • Leasing Upside: 7,949sf vacancy provides NOI upside for an investor
  • National Tenants: 88% of GLA occupied by national tenants
  • Minimal short-term rollover: 
  • 10-year lease signed by Five Below in 2022
  • All tenants have term until at least 2024​​​​

THE HIGHLIGHTS

  • West Fargo is one of the fastest growing communities in North Dakota
  • Westgate Commons is shadowed by Mertens, Lowes, and Sam’s Club
  • The center is located in the heart of the W Fargo retail hub
  • The cost of business in W Fargo is 15% less than the national average
  • Strong daily traffic with over 27,365 cars
  • 13th Ave S: 21,929
  • 52nd St S: 5,436
  • Westgate Commons share connectivity with approximately 940,000sf of neighboring retail space

THE DEAL POINTS

  • Cap Rate: 7.50%
  • Price: $13,250,000
  • Year Built: 2001
  • NOI: $993,556
  • Occupancy: 88%
  • Square Footage: 90,558 SF

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