Overview
Ann Arbor MI MSA grocery anchored college-town center. Conveniently located between University of Michigan (5 miles northwest) and Eastern Michigan University (2 miles east). 122,762 square feet and 97% occupied.
High performing tenants including Save-A-Lot, Big Lots, Planet Fitness and Dollar Tree. 97% of occupied GLA leased to national tenants/franchises. Outstanding weighted average lease term into 2029. 57% of leased GLA has term into 2029 or beyond. Single-digit average rent.
Excellent 5-mile demos – 176k population with $109k average household income. Prime location along Washtenaw Avenue (34,978 VPD). Surrounded in all directions by dense housing stock.
Upside via lease-up of vacant suite (3,695 SF) and marking below market rents to market. Pricing below replacement cost. Property is institutionally owned and maintained. Entire property has roof warranties into at least 2036.
