- With 83% of the shopping center occupied, this asset presents opportunity for a new ownership group to lease several vacancies and significantly increase the NOI.
- Applebee’s is separately parceled, giving future ownership the ability to take advantage of the STNL market and sell the asset at a low cap rate.
- 78% of the center’s rental revenue comes from national credit rated retailers including Big Lots, Burlington, Harbor Freight, Citi Trends and Applebee’s creating the dominant discount retail anchored center in the market.
Strategically Positioned Asset
- The center is extremely well positioned directly off of the full access interchange with Interstate 94 (61,600 VPD), making Pipestone Plaza easily accessible to the residents of the surrounding vacation communities in Union Pier, New Buffalo, Sawyer, St. Joseph, South Haven, and Dowagiac.