Description

Pegasus Investments Real Estate Advisory Inc. and ParaSell, acting as exclusive advisors to the seller, are pleased to present the opportunity to acquire a newly constructed U.S. Bank located in the rapidly expanding suburb of Grimes within the greater Des Moines metropolitan area. Strategically positioned within Grimes’ dominant retail corridor, the property benefits from exceptional surrounding retail synergy and immediate proximity to major national retailers, restaurants, and a newly developed regional sports complex. The investment is secured by a new 10-year absolute triple-net lease with U.S. Bank National Association, an investment-grade tenant carrying an S&P credit rating of A+, and features attractive 2% annual rent escalations along with four additional five-year extension options. Offered at an attractive $1.6 million price point, the property provides investors with stable, inflation-resistant passive income backed by a nationally recognized financial institution in one of the Midwest’s fastest-growing markets. The property is ideally situated between a top-performing Hy-Vee grocery store, ranked in the 82nd percentile nationally by Placer.ai and generating more than 1.4 million annual visits, and the newly completed GrimesPlex, a Hy-Vee-sponsored 50-acre multi-sport complex recognized as one of the largest facilities of its kind in the Midwest. The surrounding retail corridor is further strengthened by nationally recognized retailers including Walmart and Menards, as well as a strong lineup of restaurant and retail operators such as Chipotle, Starbucks, Aldi, McAlister's Deli, McDonald's, Culver's, and Arby's, all contributing to strong daily consumer traffic and long-term retail demand within the immediate trade area. Grimes continues to rank among the fastest-growing communities in the Midwest, with the population within a one-mile radius increasing approximately 22.2% since 2020 and forecasts projecting nearly 70% additional growth over the next five years. The surrounding demographics are exceptionally strong, with average household incomes exceeding $136,000 within a five-mile radius, supporting a highly affluent and expanding customer base. The broader Des Moines metro continues to attract residents and corporate investment due to its favorable cost of living, strong quality of life, and expanding employment opportunities. Since 2018, the city of Grimes has experienced more than $885 million in completed development projects, with significant additional growth underway. Directly across from the property, a newly completed Tru by Hilton further enhances commercial activity and lodging demand, while future projects such as the $180 million Hope District mixed-use development are expected to add hundreds of residential units, retail space, and increased consumer density to the corridor. Additionally, the City of Grimes plans to invest approximately $40 million in infrastructure improvements in 2026 alone, reinforcing the long-term growth trajectory of this rapidly expanding market. Combining investment-grade tenancy, absolute NNN lease structure, built-in rent growth, and exceptional demographic momentum, this offering represents a premier passive investment opportunity in one of the Midwest’s most dynamic suburban markets.