MAIN & MAIN:
- Located on the pad of Grand Traverse Mall (598,000 SF) anchored by Target, Macy’s, JCPenney & TJ Maxx, with excellent visibility, access and prominence.
MINIMAL LANDLORD RESPONSIBILITIES:
- Tenant is 100% responsible for payment of real estate taxes, insurance, and common area maintenance. The common areas are to be administered and maintained by the adjacent owner. Landlord is responsible for roof and structure.
ONLY BURLINGTON IN NORTHERN MICHIGAN:
- This will be the first and only Burlington to open in Northern Michigan. The closest location is located in Norton Shores, MI (133 miles from the current site), and Saginaw, MI (145 miles from the current site).
STRONG MARKET/REGIONAL TRADE CORRIDOR:
- Traverse City is the strongest and only regional market in Northern Michigan. The corridor pulls shoppers from the surrounding counties of Wexford, Manistee, Benzie, Leelanau, Kalkaska, and Atrim. Traverse city’s population has grown 6.8% over the last 10 years.
CREDITWORTHY TENANT WITH STRONG CORPORATE FINANCIALS:
- Over the last five years, Burlington revenues have grown approximately 50% to $7.3 billion, and EBITDA grew at a CAGR of 15% to approximately $874 million in 2019.