Upland Real Estate Group‘s net lease team of Keith Sturm, Deborah Vannelli, Amanda Leathers and Ed Engler brokered the sale of the single-tenant net lease investment property leased to Fleet Farm in Monticello, Minneosta, for about $20 million.
The 188,000-square-foot building is visible from Interstate-94 and is a triple-net lease with 19 years remaining on the lease with rent increases annually.
Fleet Farm operates 45 stores in five states selling a variety of goods from sports and outdoor equipment to small appliances, housewares and automotive goods. The property is located on Chelsea Street West. Major retailers in the surrounding area include Walmart, Target, CVS Pharmacy, The Home Depot, Kwik Trip and Starbucks Coffee.