The Boulder Group completed the sale of a single-tenant TCF Bank at 200 25th Ave. S in St. Cloud, Minnesota, for $3.1 million.
The TCF Bank property is strategically located at the corner of a signalized intersection in a dominant retail corridor of St. Cloud. Retailers in the immediate area include Walmart Supercenter, Menards, Home Depot, Kohl’s, Dick’s Sporting Goods & Crossroads Center which is anchored by Macy’s, JCPenney, Sears and Target.
The property is also near St. Cloud State University, one of the largest universities in the state with more than 14,000 students. Additionally, there are more than 100,000 people living within five miles of the property. TCF Bank has strong deposits of $86 million.
Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction, a Midwest-based developer. The purchaser was a 1031 investor.
The newly constructed TCF Bank features a drive-thru and is adjacent to a newly constructed Tim Horton’s.