Hobby Lobby benefits from the strong retailers in the Marshalltown Mall and those that surround the Property. Marshalltown Mall features anchor tenants such as Planet Fitness, Younkers, Fridley Theatres and JC Penney. In addition, other surrounding national retailers such as Walmart, Applebee’s, Burger King, Arby’s, McDonald’s, ALDI, Staples, Aaron’s, Advance Auto Parts, Dunkin Donuts and AT&T are able to attract customers from an expansive trade area. With the strong surrounding national retailers, coupled with its immediate access to Iowa Highway 14, which runs through the center of town, and US-30, the Property is positioned as the destination retail center for the surrounding residents.
JLL is pleased to exclusively offer the opportunity to acquire the fee simple interest in a single tenant, leased property leased to Hobby Lobby (the “Property”) in Marshalltown, IA. Marshalltown is less than an hour drive to the capital of Iowa; Des Moines. The Property is situated along Highway 14, a major retail thoroughfare in the region which boasts more than 18,000 vehicles per day. Hobby Lobby executed a ten (10) year deal in 2015, along with three (3), five (5) year options. All options have roughly ten percent (10%) increases in the beginning of each.