About the Investment

• Long-Term Triple Net (NNN) Leases | Starbucks, Great Clips, and Spectrum are all subject to long-term Triple Net (NNN) leases, featuring rent increases every five years and no landlord responsibilities. The properties have a weighted average lease term of 4.85 years, with Starbucks and Great Clips each on 10-year NNN leases, while Spectrum holds a 7-year NNN lease. Each lease includes multiple renewal options, further solidifying the investment's appeal as a stable, long-term opportunity.
• Pad Site of Lowe's and Dollar Tree Fully Leased Shopping Center | The subject property is a prime pad site within a fully leased shopping center, featuring prominent national tenants such as Lowe's, Dollar Tree, Supercuts, Dunham's Sports, and B2 Outlet Stores. These well established brands attract a high volume of foot traffic, enhancing the visibility and appeal of this location.
• Situated Between Several Major National Retailers and an Abundance of Hotels | In addition to being an out pad to Lowe’s, this property is strategically located in between several major national retailers, including The Home Depot, Meijer, Walmart Supercenter, and Aldi. Furthermore, within a mile of the property, there are six hotels, generating significant foot traffic to the location.
• Starbucks Featuring a Drive-Thru | Starbucks offers both in-store seating and space for customers, with the added convenience of a drive-thru enhancing accessibility and ultimately driving increased revenue at this location.
• High Performing Retail Corridor | Tenants in this retail corridor perform exceptionally well. The Taco Bell adjacent to the subject property ranks in the 92nd percentile nationwide among all Taco Bell locations, and in the 88th percentile within the state of Michigan, highlighting the high level of traffic at this location. Additionally, the Arby's directly across the street ranks in the 72nd percentile nationwide, further reinforcing the strong traffic flow in the area (Placer.ai).
• Corporate Credit Tenants | Both the Starbucks and Spectrum leases are backed by their respective corporate entities, offering a solid guarantee for any future owner. Starbucks operates over 38,130 locations worldwide, while Spectrum boasts more than 700 retail stores across the United States, further strengthening the reliability of these leases.