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Department Store

Kohl's | 10+ Years Remain | Detroit MSA | Recent Blend/Extend

8320 26 Mile Rd, Shelby Township, MI 48316

Listing Price: $11,745,891

Cap Rate
6.45%
Tenant Name
Kohl's
Years Remaining On Lease
10.6
Guarantor
Corporate Guarantee
Rentable SF
86,584
Lease Type
Double Net
Rent Per Square Feet
$8.75

Investment Overview

Marcus & Millichap, on behalf of ownership, is pleased to exclusively offer this net-leased Kohl’s in Shelby Township, Michigan. More than 10 years remain on a corporate lease with seven, five-year renewal options. Kohl’s opened in this location more than 18 years ago. The lease is guaranteed by Kohl’s Corporation, publicly traded on the NYSE, who has an investment-grade credit rating of “BBB-” by Standard & Poor’s, and a market cap of $9.31 Billion with more than $15.9 Billion in annual revenue. The location is part of Shelby Creek retail center which has esteemed shadow anchors such as Home Depot and Target. The project was planned and developed as separate parcels which allows for an exceptionally clean lease that was previously financed with CTL debt which has been since extinguished.

Investment Highlights

  • 10+ Years Term with Investment Grade Tenant
  • Sub-$9 PSF Rental Rate; Pricing Well Below Replacement Cost
  • $123K AHHI & A Population Density of 115K Within A Five Mile Radius

Exclusively Listed By

  • Dean Zang

    Executive Managing Director Investments

    (202) 536-3754

    Email Dean

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

    Washington, D.C.

  • Paul Kerber

    Senior Vice President Investments

    (248) 415-2612

    Email Paul

    License(s): MI: 6502130236, MI: 6506027275

    Detroit

Broker of Record

  • Steven Chaben

    Senior Vice President / Regional Manager

    (248) 415-2600

    License(s) MI: 6502387903

    Michigan

Department Store

Kohl's | 10+ Years Remain | Detroit MSA | Recent Blend/Extend

Listing Price: $11,745,891

Cap Rate
6.45%
Tenant Name
Kohl's
Years Remaining On Lease
10.6
Guarantor
Corporate Guarantee
Rentable SF
86,584
Lease Type
Double Net
Rent Per Square Feet
$8.75

Investment Highlights

  • 10+ Years Term with Investment Grade Tenant
  • Sub-$9 PSF Rental Rate; Pricing Well Below Replacement Cost
  • $123K AHHI & A Population Density of 115K Within A Five Mile Radius

Investment Overview

Marcus & Millichap, on behalf of ownership, is pleased to exclusively offer this net-leased Kohl’s in Shelby Township, Michigan. More than 10 years remain on a corporate lease with seven, five-year renewal options. Kohl’s opened in this location more than 18 years ago. The lease is guaranteed by Kohl’s Corporation, publicly traded on the NYSE, who has an investment-grade credit rating of “BBB-” by Standard & Poor’s, and a market cap of $9.31 Billion with more than $15.9 Billion in annual revenue. The location is part of Shelby Creek retail center which has esteemed shadow anchors such as Home Depot and Target. The project was planned and developed as separate parcels which allows for an exceptionally clean lease that was previously financed with CTL debt which has been since extinguished.

Exclusively Listed By

  • Dean Zang

    Executive Managing Director Investments

    (202) 536-3754

    Email Dean

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

    Washington, D.C.

  • Paul Kerber

    Senior Vice President Investments

    (248) 415-2612

    Email Paul

    License(s): MI: 6502130236, MI: 6506027275

    Detroit

Broker of Record

  • Steven Chaben

    Senior Vice President / Regional Manager

    (248) 415-2600

    License(s): MI: 6502387903

    Michigan

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