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Area Size
NOI Net Operating Income N/A
Cap Rate N/A
Asking Price Contact for pricing
Area Size
NOI Net Operating Income N/A
Cap Rate N/A

Documents

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Create an account on the Investor Center to save your search and investment preferences, save and share opportunities, access exclusive documents, and more. More questions? Visit our FAQ. You'll need to sign a Confidentiality Agreement (CA) to access exclusive documents in the Deal Room. Signing the CA means you agree not to divulge or release sensitive information related to this property. More questions? Visit our FAQ.

Key facts

Year Built 1998
Building Area Net
Occupancy 100.0 %

Property description

A 166,100 square foot destination shopping center in the heart of a dominant regional shopping node just west of the Grand Rapids, MI MSA. This 100% leased offering recently signed new five-year renewal with Barnes & Noble and Bed Bath & Beyond, in addition to a ten-year renewal with Ulta Beauty. The property's roster of 99% national tenancy is further complimented by a separately owned Lowe's shadow anchor that brings daily and consistent traffic to the site, creating a synergistic demand for Felch Street Shopping Center.

Investment highlights

Proven Legacy of Tenant Retention:

TJ Maxx, Shoe Carnival, Barnes & Noble, Bed Bath & Beyond, Old Navy, and Party City have been tenants at the property for 20 years or longer, contributing to the Shopping Center's weighted average tenure of 19 years

Recent Leasing Momentum:

Over 55,000 square feet of renewals (34% of GLA) in the last 12 months between Barnes & Noble, Ulta Beauty, Jonathan Stevens Mattress, and Bed Bath & Beyond

Dominant Regional Retail Corridor:

Felch Street Shopping Center is conveniently located in the heart of a dominant regional shopping corridor which features Target, Meijer, Sam's Club, Hobby Lobby, Dick's Sporting Goods, and Best Buy

Exceptional Seasonal Tourism:

Holland, MI attracts over one million annual visitors each year

Pandemic Proof Investment:

Strong collections of 97% in the trailing 12 months due to strength of tenancy

Last Updated Date: 22 Oct 2021

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Last Updated Date: 22 Oct 2021

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