ABSOLUTE NET LEASE | ZERO LANDLORD RESPONSIBILITIES
- Tenant directly pays for common area maintenance, taxes, and insurance.
- Landlord has zero responsibilities.
- Tenant is responsible for roof, structure, parking lot, and all aspects of the property.
- Perfect investment for the management free, passive investor.
NEW 20 YR SALE LEASEBACK | FRANCHISEE CREDIT | RENT BUMPS
- Bells & Birds, Inc. will sign a new 20 year lease with four (4) five (5) year options with rent commencing upon closing.
- 10% rent bumps every 5 years during the primary term and each option period.
- Bells & Birds, Inc. has been operating Yum! Brands for 13 years.
STRONG NORTHERN MICHIGAN MSA
- Traverse City is the largest city in the 21-county Northern Michigan region.
- Traverse City attracts 3.3M visitors per year.
- Cherry Capital Airport services Traverse City and makes Traverse City a national destination.
GROWING TRADE AREA
- Over the last three years, Costco, Menards, and Blain’s Farm & Fleet have opened in Traverse City.
- Cherry Capital Airport has started the process of marketing the surrounding land around which will lead more retailer activity.
- Population is projected to grow 3% in the next five years.