Investment Overview

Marcus & Millichap is pleased to present the Minges Creek Plaza in Battle Creek, Michigan. Minges Creek Plaza is positioned on about 7.02 acres along Beckley Road, directly adjacent to Minges Brook Mall, which is anchored by Target, and Lakeview Square Mall, which is anchored by Sears, Barnes & Noble, Dunham’s Sports and Buffalo Wild Wings. There are numerous other traffic drivers nearby including Walmart, Sam’s Club, Lowe’s, Meijer, Menards and Kohl’s. This corridor is a dense retail pocket that sits at the junction of Interstate 94 and Interstate 194, which see daily combined traffic counts in excess of 73,000 vehicles. The Plaza is comprised of a multi-tenant retail center along with a multi-tenant strip positioned as an outparcel in front of the center. The offering presents a fully stabilized investment, at 100 percent occupancy, with a strong tenant mix with 47 percent of the gross leasable area occupied by national tenants. All of the leases are triple net, presenting very minimal landlord responsibility, with each tenant reimbursing for their pro rata share of all common area maintenance, tax, insurance and administration and management fee expenses. There is almost zero near-term lease rollover, with more than 87 percent of the gross leasable area leased until at least 2025. The Plaza is in-line with Hobby Lobby and Big Lots, which provides considerable consumer traffic to the Plaza and further solidifies the strength of the location. Battle Creek is the principal city of the Battle Creek, Michigan Metropolitan Statistical Area, which encompasses all of Calhoun County. It is nicknamed “Cereal City”, home to Kellogg Company, which is an S&P 500 component and is publicly traded on the New York Stock Exchange. Battle Creek is located 44 miles from Kalamazoo, 55 miles from Lansing and 77 miles from Ann Arbor.