Shopping Neighborhood
Beacon Square
440 N Beacon Blvd, Grand Haven, MI 49417
Listing Price: $9,955,000
Investment Overview
100 Percent Occupied, 27,866 Square-Foot Portfolio of Two Neighboring Core Retail Strips in Grand Haven, Michigan (Lake Michigan Resort Town. A+ Positioning with High Barriers to Entry: $23.85 per Square Foot. Triple-Net Replaceable Rents ($35 Plus per Square Foot Triple-Net for New Construction). Outparcel to Home Depot, Staples and West Marine Shopping Center, Straddling Home Depot’s Main Entrance Drive. Offered Free & Clear of Debt Allowing Prospective Purchaser to Secure New Financing According to Investment Strategy.
Beacon Square
Investment Highlights
- 100 Percent Occupied, 27,866 Square-Foot Portfolio of Two Neighboring Core Retail Strips in Grand Haven, Michigan (Lake Michigan Resort Town)
- Irreplaceable 72,000 Vehicles per Day "Main & Main" Location with 13 Lanes of Traffic
- Anchored by Advance Auto Parts (25 Percent of GLA) on NNN Lease into 2037
- Starbucks Occupies End-cap with Drive-Thru; Only SBUX in Grand Haven, Next Nearest SBUX is Seven Miles North
- Strong NOI Growth Over Hold Period: 2.2 Percent NOI CAGR Over 10-Year Model
- 100 Percent Triple-Net Lease Structure with 103 Percent Reimbursement of LL Tax, CAM, Ins and Mgmt Expense
- 8 of 12 Tenants (69 Percent of GLA) are National Retailers and Restaurants Including Jersey Mike's Subs, Tropical Smoothie Café, Great Clips, H&R Block and Wild Bill's Tobacco
- Unmatched Visibility – 850 Feet of Frontage with Shallow Setback with Unobstructed Sightlines to Traffic
Listing Price: $9,955,000
Investment Highlights
- 100 Percent Occupied, 27,866 Square-Foot Portfolio of Two Neighboring Core Retail Strips in Grand Haven, Michigan (Lake Michigan Resort Town)
- Irreplaceable 72,000 Vehicles per Day "Main & Main" Location with 13 Lanes of Traffic
- Anchored by Advance Auto Parts (25 Percent of GLA) on NNN Lease into 2037
- Starbucks Occupies End-cap with Drive-Thru; Only SBUX in Grand Haven, Next Nearest SBUX is Seven Miles North
- Strong NOI Growth Over Hold Period: 2.2 Percent NOI CAGR Over 10-Year Model
- 100 Percent Triple-Net Lease Structure with 103 Percent Reimbursement of LL Tax, CAM, Ins and Mgmt Expense
- 8 of 12 Tenants (69 Percent of GLA) are National Retailers and Restaurants Including Jersey Mike's Subs, Tropical Smoothie Café, Great Clips, H&R Block and Wild Bill's Tobacco
- Unmatched Visibility – 850 Feet of Frontage with Shallow Setback with Unobstructed Sightlines to Traffic
Investment Overview
100 Percent Occupied, 27,866 Square-Foot Portfolio of Two Neighboring Core Retail Strips in Grand Haven, Michigan (Lake Michigan Resort Town. A+ Positioning with High Barriers to Entry: $23.85 per Square Foot. Triple-Net Replaceable Rents ($35 Plus per Square Foot Triple-Net for New Construction). Outparcel to Home Depot, Staples and West Marine Shopping Center, Straddling Home Depot’s Main Entrance Drive. Offered Free & Clear of Debt Allowing Prospective Purchaser to Secure New Financing According to Investment Strategy.
