Pipestone Plaza

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Pipestone Plaza

1950 Pipestone Rd Benton Harbor MI Berrien County

Description:

Value-Add Opportunity

  • 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.

Credit Tenants

  • 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.

AVAILABLE VIA AUCTION ON TEN-X.COM – CLICK FOR INFO

Gross Leasable Area: 176,183 SF

Anchors: Burlington, Harbor Freight Tools, Big Lots

Demographic Info:

Radius: 1 Mile 3 Mile 5 Mile
Population Density: 1,135 26,405 50,972
Avg. HH Income: $37,051 $48,078 $68,288

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.