Shopping Neighborhood
Merchants Crossing | Kroger & Big Lots Anchored
1100 W Argyle St, Jackson, MI 49202
Listing Price: Request For Offer
Investment Overview
Marcus & Millichap is pleased to present Merchants Crossing, a 110,070-square-foot Kroger anchored center. Located on the southwest corner of W. Argyle and N. Wisner in Jackson, the center is currently 92.73 percent occupied with a synergistic mix of tenancy including: Big Lots, Disc Traders, Malibu Tan and Oriental Springs Buffet. The property was renovated in 2004 and is situated on 9.35 acres. The roof was replaced in 2016 and has a 20-year warranty. The Kroger store has a long history of year-over-year sales growth and an extremely low rent-to-sales ratio of less than one percent. Kroger Co. is the largest supermarket chain by revenue, second largest general retailer behind Walmart, and the seventh largest American-owned private employer in the United States. The company currently operates nearly 2,800 supermarkets under various banner names in 35 states and is currently pursuing an acquisition of Albertsons, another large food and drug retailer chain in the U.S. Kroger has occupied the center since 1995 and has three years of term remaining on their triple-net lease with five five-year renewal options. Big Lots, another long-term tenant (1996), is operating on a triple-net lease and recently executed a 10-year extension, showing dedication to this site. The tenant has two five-year options to renew and a $0.25 per-square-foot rent increase scheduled for 2028. Big Lots, Inc. (NYSE: BIG) is one of America's largest home discount retailers, operating more than 1,425 stores in 48 states, as well as a best-in-class ecommerce platform with expanded fulfillment and delivery capabilities. Merchants Crossing is strategically positioned within a regional trade area of Jackson County. There are over seven million square-feet of retail within five miles of the subject property. The asset is within immediate proximity to The Home Depot and Jackson Crossing, a 656,000+ square-foot regional mall anchored by Target, Kohl’s, TJ Maxx, Best Buy, and Hobby Lobby. Other nearby national retail includes Walmart, JCPenney, ALDI, Joann Fabrics, Meijer, Sam's Club, Michaels, Office Depot, among many others. The property features excellent visibility off W. Argyle and N. Wisner, where traffic counts exceed 18,000 vehicles per day. The center is located within proximity to Interstate-94 and US Route 127 with combined traffic counts of 77,658 vehicles per day. There are 77,600 full-time residents with an average annual household income of nearly $62,000 within five miles of the asset. Merchants Crossing offers a unique investment opportunity to acquire a grocery anchored center with upside potential, situated within a core regional trade area.
Investment Highlights
- Anchored by Kroger with Fuel Center 92.73 Percent Occupied by a Synergistic Mix of Retail Tenants | 100 Percent Triple-Net Leases Upside Potential Through Lease-Up
- Newer Roof Installed in 2016 | 20-Year Warranty
- Kroger has Three Years of Term Remaining | Five Five-Year Renewal Options Strong Sales Growth Year-Over-Year | Kroger Low Rent-To-Sales Ratio of Well Under One Percent
- Big Lots Recent 10-Year Lease Extension | Expiration 2033 $0.25 Per-Square-Foot Rent Increase in 2028
- Disc Traders Recent Lease Extension with Rent Increase
- Limited Grocery Competition | Nearest Kroger is 30 Miles Away
- Located Near I-94 & US-127 (77,658 VPD Combined) Seven Million Square Feet of Retail within a Five-Mile Radius
- Excellent Demographics: 77,643 Residents & $61,926 Average Household Income within a Five-Mile Radius of the Asset Daytime Population: 86,089
Exclusively Listed By
Shopping Neighborhood
Merchants Crossing | Kroger & Big Lots Anchored
Listing Price: Request For Offer
Investment Highlights
- Anchored by Kroger with Fuel Center 92.73 Percent Occupied by a Synergistic Mix of Retail Tenants | 100 Percent Triple-Net Leases Upside Potential Through Lease-Up
- Newer Roof Installed in 2016 | 20-Year Warranty
- Kroger has Three Years of Term Remaining | Five Five-Year Renewal Options Strong Sales Growth Year-Over-Year | Kroger Low Rent-To-Sales Ratio of Well Under One Percent
- Big Lots Recent 10-Year Lease Extension | Expiration 2033 $0.25 Per-Square-Foot Rent Increase in 2028
- Disc Traders Recent Lease Extension with Rent Increase
- Limited Grocery Competition | Nearest Kroger is 30 Miles Away
- Located Near I-94 & US-127 (77,658 VPD Combined) Seven Million Square Feet of Retail within a Five-Mile Radius
- Excellent Demographics: 77,643 Residents & $61,926 Average Household Income within a Five-Mile Radius of the Asset Daytime Population: 86,089
Investment Overview
Marcus & Millichap is pleased to present Merchants Crossing, a 110,070-square-foot Kroger anchored center. Located on the southwest corner of W. Argyle and N. Wisner in Jackson, the center is currently 92.73 percent occupied with a synergistic mix of tenancy including: Big Lots, Disc Traders, Malibu Tan and Oriental Springs Buffet. The property was renovated in 2004 and is situated on 9.35 acres. The roof was replaced in 2016 and has a 20-year warranty. The Kroger store has a long history of year-over-year sales growth and an extremely low rent-to-sales ratio of less than one percent. Kroger Co. is the largest supermarket chain by revenue, second largest general retailer behind Walmart, and the seventh largest American-owned private employer in the United States. The company currently operates nearly 2,800 supermarkets under various banner names in 35 states and is currently pursuing an acquisition of Albertsons, another large food and drug retailer chain in the U.S. Kroger has occupied the center since 1995 and has three years of term remaining on their triple-net lease with five five-year renewal options. Big Lots, another long-term tenant (1996), is operating on a triple-net lease and recently executed a 10-year extension, showing dedication to this site. The tenant has two five-year options to renew and a $0.25 per-square-foot rent increase scheduled for 2028. Big Lots, Inc. (NYSE: BIG) is one of America's largest home discount retailers, operating more than 1,425 stores in 48 states, as well as a best-in-class ecommerce platform with expanded fulfillment and delivery capabilities. Merchants Crossing is strategically positioned within a regional trade area of Jackson County. There are over seven million square-feet of retail within five miles of the subject property. The asset is within immediate proximity to The Home Depot and Jackson Crossing, a 656,000+ square-foot regional mall anchored by Target, Kohl’s, TJ Maxx, Best Buy, and Hobby Lobby. Other nearby national retail includes Walmart, JCPenney, ALDI, Joann Fabrics, Meijer, Sam's Club, Michaels, Office Depot, among many others. The property features excellent visibility off W. Argyle and N. Wisner, where traffic counts exceed 18,000 vehicles per day. The center is located within proximity to Interstate-94 and US Route 127 with combined traffic counts of 77,658 vehicles per day. There are 77,600 full-time residents with an average annual household income of nearly $62,000 within five miles of the asset. Merchants Crossing offers a unique investment opportunity to acquire a grocery anchored center with upside potential, situated within a core regional trade area.
Exclusively Listed By

