Close of Escrow: Norton Shores Retail Center in Norton Shores, MI

SIG is pleased to announce the recent Close of Escrow on Norton Shores Retail Center located in Norton Shores, Michigan.

Investment Highlights Include:

  • Brand New Two Tenant Retail Center – Located in the Western Michigan Community of Norton Shores
  • Ideal Tenant Line-up – 5,018 SF Retail Center is 100% Leased to an Excellent Tenant Mix Consisting of Sleep Number (Over 1,250 Stores in 41 states) and ATI Physical Therapy
  • Sleep Number (51.9% of the GLA) has Reported Sales to be 125% Over Projections Providing Confidence in the Long Term Stability of This Location
  • Strong Income Growth – Both Tenants’ Leases Have Fixed 10% Rent Increases Every 5 Years on Initial 10 Year Lease Terms and Options to Renew
  • Central Retail Corridor Location – Located in the Epicenter of the Most Active Retail Corridor of Muskegon County, Only 0.8 Miles of Interstate I-96 (39,294 Cars Per Day) and 0.5 miles from Highway 31 (47,592 Cars Per Day)

Closing Price: $1,895,000
Closing CAP:  7.68%

Listing Agents: Andy Chana, Adam Scherr and Dan Hoogesteger

For More Information Contact:

Andy Chana
Lic #01896459
310.853.1316
andy@SIGnnn.com