DOMINANT CENTER IN MARKET:
- Cascade Crossing is the largest shopping center in Sault Ste. Marie. With minimal competition, the subject property is the dominant center in the market.
BEST IN CLASS TENANT/CREDIT STRENGTH:
- TJ Maxx, Hobby Lobby, Five Below, Kohls and Dollar Tree are considered best in class, e-commerce resistance tenants including Hobby Lobby (exp. 2030), TJ Maxx (exp. 2027), Dollar Tree (exp. 2025), and Harbor Freight (exp. 2030). TJ Maxx has an investment grade A2 credit rating.
- All of tenants in the center have expanded and excelled during the pandemic.
INTERNATIONAL BORDER AND TOURISM:
- Sault Ste. Marie, MI has a population of approximately 14,144 people, and its twin city in Canada has a population of 80,000. The two cities are joined by the International Bridge (5,400 VPD), which is 2.8 miles long and connects Michigan and Ontario Canada. The Sault Ste. Marie International Bridge is the only vehicular crossing between Ontario and Michigan within a 300-mile distance.
- It is estimated that 500,000 people visit Sault St. Marie and the Soo Locks each year.