Hoover Eleven Shopping Center | Warren, MI
Value Add Grocery Anchored Center
Marketing description
Cushman & Wakefield is pleased to present the opportunity to purchase Hoover Eleven Shopping Center (the “Property”), a Kroger anchored community retail center in Warren, Michigan, one of Detroit’s most densely populated suburban markets. Anchored by Kroger, which has operated at the site for over 50 years and recently executed a new 10 year lease extension, the Property offers investors a rare combination of legacy income stability and meaningful value add upside.
The Property totals 281,910 SF and is strategically positioned just south of Interstate 696, benefiting from exceptional visibility, multiple points of ingress/egress, and exposure to 177,000+ vehicles per day, over 32,000 of them being directly on Hoover Road. Hoover Eleven functions as the primary retail destination for its immediate trade area, serving surrounding high‑density residential neighborhoods characterized by strong household incomes and limited competing grocery‑anchored retail supply.
The tenant mix is heavily weighted toward national, necessity‑based retailers, including Kroger, Dunham’s Sports, Harbor Freight, Dollar Tree, and Shoppers World, providing durable, internet‑resistant cash flow. Current occupancy of approximately 89%, a 4.9 year weighted‑average lease term, and a roster of long‑tenured tenants establish a solid in‑place income foundation. At the same time, existing vacancy, below‑market rents, and site flexibility create multiple avenues to enhance NOI through lease‑up, rent growth, and merchandising optimization.
Please use the following link to access the deal room: Hoover Eleven
Investment highlights
DOMINANT GROCERY ANCHOR
- Anchored by Kroger with an operating history of over 50 years at the Hoover Eleven Shopping Center. The full-service grocery store also offers pharmacy, The Little Clinic, Kroger Fuel and online pickup. This diversification of services along with their long term tenancy demonstrates Kroger’s commitment to the location.
ACCESS & VISIBILITY
- Located along the heavily traveled Hoover Road (25,437 VPD) with immediate access to I-696 which sees an additional 177,062 VPD
- Located at a signalized intersection with five points on ingress/egress.
TENANT PERFORMANCE
- With 1.1 MM estimated visits per year (placer.ai) in their 56,590 SF store, Kroger at Hoover Eleven ranks in the top 18% of all Kroger nationally in visits/SF. This performance should give investors confidence that Kroger will continue their long-term tenancy well into the future.
STRONG CONSUMER BASE
- Hoover Eleven benefits from a densely populated infill location. Within a 3-mile radius of the Property lives 119,000+ residents with an average household income of nearly $80,000/year. This creates a dynamic consumer base with significant buying power.
IMMEDIATE UPSIDE
- At 88% occupied, the Property provides stable cash flow to investors with immediate upside through lease-up of vacant space.
- Mark-to-market opportunities with many tenant paying below market rents with limited option control.
- Del Taco’s lease expires at the end of 2026 providing the opportunity to negotiate a long term lease with the tenant and monetize the parcel through a NNN sale.
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