Dollar General - Absolute NNN GRAND RAPIDS MSA
Absolute NNN DG - Grand Rapids MSA - Growing Market - Small Rent and Price Point
Marketing description
The property is an Absolute NNN Lease, meaning zero landlord responsibilities, built to suit Dollar General in 2013 according to their specifications. The 9,301 square foot building sits on 1.83 acres and has over 4 years left on the lease, with five 5-year renewal options, each with rent increases. Located in Caledonia, a growing suburban market 20 minutes from downtown Grand Rapids, the area boasts strong retail, residential, and industrial growth. The lease is guaranteed by Dollar General, rated "BBB" by Standard & Poor's. The property is 1 mile from a large Amazon Fulfillment Center and Sort Center employing nearly 3,000 people. Situated on 68th Street, a major retail area, it is near residential developments and Gerald Ford International Airport. The surrounding area has 7.1 million square feet of industrial and distribution space within a 5-minute drive, including major facilities like Steelcase Manufacturing, Coca Cola Distribution Center, and several Amazon facilities.
Investment highlights
Absolute NNN Lease - Zero Landlord Responsibilities
Build to Suit for Dollar General in 2013 Per Tenant's Specifications
9,301 Square Foot Building Located on 1.83 Acres of Land
4+ Years Remaining on the Lease - Equipped with Five, 5 Year Options to Renew with Increases in Each Option Period
Very Strong Location and Demographics - Caledonia is a Growing Suburban Market 20 Minutes from Downtown Grand Rapids and is Experiencing Strong Retail, Residential and Industrial Growth
Corporate Backed Guarantee by Dollar General - "BBB" By Standard & Poor's
1 Mile from 1MM Square Foot Amazon Fulfillment Center AND 800KSF Amazon Sort Center - Constructed in 2020 the Center Employs Close to 3,000 People
Excellent Location on 68th Street - A Retail Mainstay in the Caledonia/Gaines Township Market and in Close Proximity to Strong Suburban Residential Developments as well as Gerald Ford International Airport
There is 7.1M Square Feet of Industrial & Distribution within a 5Minute Drive of the Property - Very Strong Location
Properties of Note in Close Proximity to the Property include: Steelcase Manufacturing (600K SF,) Coca Cola Distribution Center(200K SF,) Amazon (1.8MM SF) and Many More National, Regional and Industrial & Distribution Tenants
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