Greenville Shopping Center

Back to your search results

Greenville Shopping Center

205 S. Greenville West Drive Greenville MI Montcalm County

Sales Price: UNPRICED

Contact Person(s): Daniel Kukes
Kevin Baker
Maxwell Lippitt
Jason Greenspan

Description:

  • Priced substantially below replacement costs. 84.6% of the rent roll has below market rental rates from (Hobby Lobby at $2.59 PSF and Marshall’s at $8.50 PSF).
  • New 10 year lease terms from all tenants. 100% of the rent roll expires 8/31/2030 or later.
  • Best in class tenancy and retail synergy. Marshall’s (TJX Credit), Hobby Lobby, Five Below and Skechers are all leading retailers that are the most active in their retailing segment.
  • Excellent credit profile from 100% of the tenants. All tenants have substantial balance sheets that have weathered and excelled during the pandemic.
  • Like New Construction — The center was completely redeveloped down to the steel frame in 2020. Very limited ongoing Capex reserves during the initial ten (10) year hold period.
  • Exceptional debt available from bank, credit union and conduit lenders. Please contact broker for updated debt quotes.

Building Size: 97,984 SF

Zoning: Commercial

Tenant Roster: Hobby Lobby, Marshalls, Five Below, Skechers

Demographic Info:

Radius: 1 Mile 3 Mile 5 Mile
Population Density: 18,853 32,504 46,662
Avg. HH Income: $74,898 $72,947 $75,540

LANDMARK INVESTMENT SALES – Licensed Real Estate Brokers. The information above has been obtained from sources believed reliable. While we do not doubt its accuracy, we have not verified it and make no guarantee, warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions or estimates are used for example only and do not represent the current or future performance of the property. The value of this transaction to you depends on tax and other factors which should be evaluated by your tax, financial and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction, the suitability of the property for your needs.