This property has sold.
Details: Retail
Asking Price: $12,650,000
Square Feet: 90,558 SF
Asking Cap Rate: 7.9%
Year Built: 2001
NOI: $993,556
SOLD – Westgate Commons
1500 13th Ave E, West Fargo, ND 58078
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
This property has sold.