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ExchangeRight Acquires New Hope Hy-Vee Retail Property For $18.35M With 20-Year Lease
SOLD
$18,350,000
Minnesota
See Similar DealsRetail90,738 SF
Sold 08/18/2025
SOLD
ExchangeRight Acquires New Hope Hy-Vee Retail Property For $18.35M With 20-Year Lease
8200 42nd Avenue North
See Similar DealsRetail90,738 SF
Sold 08/18/2025
Summary
MINNESOTA
Asset Type:Retail
Price Per Square Foot:$202
Total Square Footage:90,738 SF
Transaction Type:Sale
The property involved in the transaction is a retail asset located at 8200 42nd Avenue North in New Hope, MN. It was sold for a total price of $18,350,000. The asset spans 90,738 square feet and the price per square foot is approximately $202.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $18,350,000
- Sale Date: 08/18/2025
- Buyer: ExchangeRight
- Lease Terms: 20-year lease with Hy-Vee
- Existing Portfolio: Includes five other Hy-Vee locations in the Twin Cities
The transaction was carried out as a sale-leaseback deal with Hy-Vee, which signed a long-term lease following the sale. This acquisition enhances ExchangeRight's holdings in the retail market within the region.
Players
BUYER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$978,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$65,193.67
Cash-on-Cash Return-1.27%
Monthly Debt Service$86,988.36
Annual Debt Service$1,043,860.34
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