Property History
Nestled in a prime retail location, this ground leased Double Drive-Thru Chick-fil-A boasts 13 years remaining on the lease with 10% rent increases every 5 years, offering investors a secure income stream. Situated at a high-traffic 4-way intersection with 65,900 vehicles passing daily, this property provides long-term stability. Conveniently placed across from the bustling Woodland Mall, the property benefits from proximity to major retailers such as Macy’s and JCPenney. Additionally, its positioned as an outparcel to The Shops at Centerpoint a 575,000 SF, Best in Class, Open Air Power Center, Offering Shopping, Restaurants, Entertainment and Fitness Options With a corporate guarantee from Chick-fil-A Inc., boasting over 3,000 locations nationwide, this investment offers a reliable income source.
Passive Income —- Ground Leased Double Drive-Thru Chick-fil-A Located at the Heavily Trafficked, 4-Way, Signalized Intersection of E Beltline Avenue SE and 28th Street SE with a Combined 65,900 Vehicles Passing Daily
Lease Term —- Lease Features 13 Years Remaining on the Base Term with Attractive 10% Rent Increases Every 5-Years as a Hedge Against Inflation Providing Investors Long Term Security
Highly Active Retail Corridor —- Subject Property is Strategically Located Across From Woodland Mall, a 1.1 Million SF Enclosed Super-Regional Shopping Mall with Over 100 Tenants Including Macy’s, JCPenny and Von Maur
Shopping Center Out Parcel —- This Chick-fil-A is Positioned as an Out-parcel to The Shops at Centerpoint, a 575,000 SF, Best in Class, Open Air Power Center, Offering Shopping, Restaurants, Entertainment and Fitness Options
Grand Rapids MSA —- Subject Property is Strategically Located In the Grand Rapids MSA - the 2nd Most Populous Area in the State of Michigan with More Than 1.1 Million Residents
Higher Education —- Located within 1.5 Miles From Calvin University a 390-Acre Campus with Over 3,300 Students Enrolled and a Staff in Excess of 330
Sound Store Demographics —- Situated in a Dense Area with Over 198,000 People Living Within a 5-Mile Radius with an Average Annual Household Income Exceeding $103,000 and a Population Growth Estimated to Exceed 1.50% between 2023 and 2028 within a 1-Mile Radius
Airport Proximity —- This Property is Located within 4-Miles from Gerald R. Ford International - the 2nd Largest Airport in Michigan after Detroit Metropolitan Airport
Corporate Guarantee —- Lease Corporately Guaranteed by Chick-fil-A Inc., With Over 3,000 Locations in 48 States and Revenue in Excess of $21 Billion
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