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Department Store

Kohl's | 14+ Years Remaining | Detroit, MI MSA | High Store Sales!

35000 Warren Rd, Westland, MI 48185

Listing Price: $20,653,745

Cap Rate
5.50%
Tenant Name
Kohl's
Years Remaining On Lease
14.5
Guarantor
Corporate Guarantee
Rentable SF
90,860
Lease Type
NNN Ground Lease
Rent Per Square Feet
$12.50

Investment Overview

Kohl’s has operated in this location since 1988. It previously expanded the building, completed a renovation in 2013, and subsequently executed a sale leaseback in 2018. In 2021, the tenant elected to extend its term early in exchange for an inducement payment from Landlord in the amount of $700,000. The present ground lease has more than 14 years remaining with 4.60% rental increases every five years during the base term and four, five-year option periods. The lease is guaranteed by Kohl’s Corporation (NYSE: KSS), a leading omnichannel retailer with more than 1,100 stores in 49 states, among the largest department store chains in the United States.

Investment Highlights

  • 14+ Year Remain on Investment Grade Tenant
  • Rental Increases Every Five Years
  • Ranked 11th of Stores Chainwide by Placer.ai

Exclusively Listed By

  • Dean Zang

    Executive Managing Director Investments

    (202) 536-3754

    Email Dean

    License(s): MD: 665335, VA: 0225239201

    Washington, D.C.

  • David S. Crotts

    First Vice President Investments

    (202) 536-3757

    Email David

    License(s): MD: 652010, VA: 0225208906, DC: SP98374073

    Washington, D.C.

  • Josh Ein

    First Vice President Investments

    (202) 536-3726

    Email Josh

    License(s): DC: SP98371724, MD: 643676, VA: 0225242141

    Washington, D.C.

Broker of Record

  • Steven Chaben

    Senior Vice President / Regional Manager

    (248) 415-2600

    License(s) MI: 6502387903

    Michigan

Financing By

  • Jared Cassidy

    First Vice President Capital Markets

    Direct:

    Email Jared

    Washington, D.C., MD

Department Store

Kohl's | 14+ Years Remaining | Detroit, MI MSA | High Store Sales!

Listing Price: $20,653,745

Cap Rate
5.50%
Tenant Name
Kohl's
Years Remaining On Lease
14.5
Guarantor
Corporate Guarantee
Rentable SF
90,860
Lease Type
NNN Ground Lease
Rent Per Square Feet
$12.50

Investment Highlights

  • 14+ Year Remain on Investment Grade Tenant
  • Rental Increases Every Five Years
  • Ranked 11th of Stores Chainwide by Placer.ai

Investment Overview

Kohl’s has operated in this location since 1988. It previously expanded the building, completed a renovation in 2013, and subsequently executed a sale leaseback in 2018. In 2021, the tenant elected to extend its term early in exchange for an inducement payment from Landlord in the amount of $700,000. The present ground lease has more than 14 years remaining with 4.60% rental increases every five years during the base term and four, five-year option periods. The lease is guaranteed by Kohl’s Corporation (NYSE: KSS), a leading omnichannel retailer with more than 1,100 stores in 49 states, among the largest department store chains in the United States.

Exclusively Listed By

  • Dean Zang

    Executive Managing Director Investments

    (202) 536-3754

    Email Dean

    License(s): MD: 665335, VA: 0225239201

    Washington, D.C.

  • David S. Crotts

    First Vice President Investments

    (202) 536-3757

    Email David

    License(s): MD: 652010, VA: 0225208906, DC: SP98374073

    Washington, D.C.

  • Josh Ein

    First Vice President Investments

    (202) 536-3726

    Email Josh

    License(s): DC: SP98371724, MD: 643676, VA: 0225242141

    Washington, D.C.

Broker of Record

  • Steven Chaben

    Senior Vice President / Regional Manager

    (248) 415-2600

    License(s): MI: 6502387903

    Michigan

Financing By

  • Jared Cassidy

    First Vice President Capital Markets

    Direct:

    Email Jared

    Washington, D.C., MD

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