Kenwood Village, located in the Duluth Heights/Kenwood neighborhood of Duluth, MN, is a
Class A apartment building with 14,000 square feet of first floor retail. The property received
its certificate of occupancy in February 2017 and leased up with a high degree of interest
from university employees, graduate students and people who recently sold their nearby
homes in the Kenwood neighborhood. The strong performance of Kenwood Village
can be attributed to its close proximity to the University of Minnesota - Duluth and
the College of St Scholastica, superior amenities, access to public transit, nearby
shopping and spectacular views.
The retail portion offers long-term leases by Amazon Proof retailers. Three
of the four current tenants have signed 10-year leases including Caribou
Coffee/Einstein Bagels, Crooked Pint, and Duluth Teachers Credit Union,
making up 73% of the retail space. Runa Yoga and Experimac complete
the list of current tenants and there is value-add potential in leasing up
the remaining 1,082 square feet of vacant space. Other key retailers in
this area include SuperOne Foods, Papa Murphys, Arby’s, UPS, Cost
Cutters, Erbert’s & Gerbert’s and Walgreens.