STRONG RETAIL/MEDICAL TENANT MIX:
- National tenants include Ace Hardware and Little Caesars Pizza, both of which thrived during the COVID-19 Pandemic.
- 35% of GLA is leased to medical tenants including W&W Wellness Center, Alcona Health, Alpine EyeCare, and ElowskyEye.
- The shopping center is 100% occupied, giving the new ownership group stable cashflow moving forward.
STRATEGIC MEDICAL LOCATION – MCLAREN HEALTH CENTER:
- The subject center is directly adjacent to the McLaren Health Center, one of the largest hospitals in Northeast Michigan, the only hospital in the Cheboygan area, and the only hospital within a 25-mile radius, making this a medical corridor destination.
- McLaren is one of the state’s largest hospital systems with 14 hospitals and 3,000+ beds across Michigan.
- McLaren Healthcare has an annual revenue exceeding $6 Billion.
- The shopping center sits at a lighted intersection just north of the hospital, with over 13,000 cars per day on Main Street.
SUCCESSFUL RETAIL MARKET – CHEBOYGAN:
- The subject property sits directly in the center of Cheboygan’s retail corridor, surrounded by national tenants such as Walmart, Family Fare, Dunham’s, Advance Auto Parts, Walgreens, McDonald’s, AutoZone, Burger King, etc.
- Cheboygan’s retail corridor draws from a 25-mile radius, as Cheboygan is the largest commercial area in Northeast Michigan, and is the county seat of Cheboygan County.
RECENT BUILDING IMPROVEMENTS:
- Ownership has owned and managed this property for several years and has kept the premises in impeccable condition.
- Recent upgrades include new tenant facades, roof replacement and parking lot work.
- No immediate deferred maintenance reserves are required.