45237 Grand River Ave, Novi, MI 48375
Marcus & Millichap, on behalf of Ownership as its exclusive advisor, is pleased to offer for sale the 100% interest in new, build-to-suit, PetSuites absolute net lease investment located at 47025 Grand River Avenue, Novi, Michigan 48374 (the “Property”). Built in 2020, and expected to deliver by December, the Property comprises a +/- 10,980 SF building on a highly visible +/- 2.48-acre parcel, that is strategically positioned to be easy to access for 45,300 vehicles per day at the intersection of Beck Road and Grand River Avenue, surrounded by residential and commercial development. The Property benefits from it’s highly visible location with easy accessibility, and convenient retail location in a strong commercial area. Novi is a growing suburb of Detroit, Michigan, and is located on Walled Lake, known for area arts and culture, access to professional sports, and low cost of living. Novi has a population of 61,000 people, average household income within one mile of the subject is over $181,120 with over 600 households and 1,590 people. The building is 100 percent occupied by PetSuites with over 70+ national locations, owned by National Veterinary Associates, Inc, an entity with over 500 locations, and owned by JAB Holdings Co. The lease will start once the tenant opens, expected December 2020, subject to a 20-year lease term and CPI rental increases every five years and in the five, five year options. PetSuites of America, a growing national pet resort, spa, and daycare chain, specializes in the boarding and grooming of dogs and cats. They currently have 70 locations in the United States, which include sites in Florida, Georgia, Indiana, Kentucky, Louisiana, North Carolina, Ohio, South Carolina, Texas, and Virginia. PetSuites has spent over 15 years developing and perfecting an enriching and healthy environment for beloved family pets. In June 2019 JAB Holding Co. agreed to buy a majority stake in NVA. JAB Holding Co. is owned by the Reimann family, one of the wealthiest in the world, according to Forbes. The company has a controlling interest in several companies such as Panera Bread, Krispy Kreme, Caribou Coffee, Dr. Pepper, Snapple, and many others.
License(s): MI: 6502387903
Michigan
Marcus & Millichap, on behalf of Ownership as its exclusive advisor, is pleased to offer for sale the 100% interest in new, build-to-suit, PetSuites absolute net lease investment located at 47025 Grand River Avenue, Novi, Michigan 48374 (the “Property”). Built in 2020, and expected to deliver by December, the Property comprises a +/- 10,980 SF building on a highly visible +/- 2.48-acre parcel, that is strategically positioned to be easy to access for 45,300 vehicles per day at the intersection of Beck Road and Grand River Avenue, surrounded by residential and commercial development. The Property benefits from it’s highly visible location with easy accessibility, and convenient retail location in a strong commercial area. Novi is a growing suburb of Detroit, Michigan, and is located on Walled Lake, known for area arts and culture, access to professional sports, and low cost of living. Novi has a population of 61,000 people, average household income within one mile of the subject is over $181,120 with over 600 households and 1,590 people. The building is 100 percent occupied by PetSuites with over 70+ national locations, owned by National Veterinary Associates, Inc, an entity with over 500 locations, and owned by JAB Holdings Co. The lease will start once the tenant opens, expected December 2020, subject to a 20-year lease term and CPI rental increases every five years and in the five, five year options. PetSuites of America, a growing national pet resort, spa, and daycare chain, specializes in the boarding and grooming of dogs and cats. They currently have 70 locations in the United States, which include sites in Florida, Georgia, Indiana, Kentucky, Louisiana, North Carolina, Ohio, South Carolina, Texas, and Virginia. PetSuites has spent over 15 years developing and perfecting an enriching and healthy environment for beloved family pets. In June 2019 JAB Holding Co. agreed to buy a majority stake in NVA. JAB Holding Co. is owned by the Reimann family, one of the wealthiest in the world, according to Forbes. The company has a controlling interest in several companies such as Panera Bread, Krispy Kreme, Caribou Coffee, Dr. Pepper, Snapple, and many others.
License(s): MI: 6502387903
Michigan
