Whole Foods (Amazon) | S&P AA

2897 Radcliff Avenue SE Grand Rapids, MI 49512

FOR SALE
Property Type:
Free Standing Building
Amount:
$17,701,000
Last Verified:
Sep 21, 2022

Highlights

  • WHOLE FOODS MARKET | NEW 20-YEAR NNN LEASE
  • MINIMAL LANDLORD RESPONSIBILITIES | LOW-RISK INVESTMENT
  • 40,500-SQUARE FEET | SITUATED ON 4.22 ACRES
  • AMAZON CORPORATE GUARANTEE | S&P AA | NYSE: AMZN
  • WHOLE FOODS IS SUBSIDIARY OF AMAZON | 500+ STORES
  • (7) 5-YEAR OPTIONS | 10% INCREASES EACH 5-YEAR PERIOD
  • #2 RANKED ON FORTUNE 500 | $469.8B IN REVENUE
  • FEE SIMPLE CONDO | OFFERED FREE & CLEAR OF DEBT
  • EXCELLENT FRONTAGE & VISIBILITY | HARD SIGNALIZED CORNER
  • MULTIPLE POINTS OF INGRESS/EGRESS ACCESS TO THE SITE
  • 38,400 COMBINED VEHICLES TRAVELING PER DAY AT INTERSECTION
  • STRONG AND GROWING DEMOS | 214k PEOPLE IN 5-MILE RADIUS
  • $82K AVERAGE HOUSEHOLD INCOME | ABOVE NATIONAL AVERAGE
  • LIMITED COMPETITION | ONLY WHOLE FOODS IN VICINITY
  • DENSE RETAIL TRADE ZONE | ADJACENT TO 976K SF WOODLAND MALL
  • ADJACENT TO SHOPS AT CENTERPOINT | TJ MAXX ANCHORED
  • KENTWOOD IS LOCATED IN GRAND RAPIDS MSA | THIRD LARGEST CITY
  • MINUTES TO DOWNTOWN GRAND RAPIDS | 9 MILES AWAY
  • RETAILERS IN IMMEDIATE VICINITY INCLUDE: HOME DEPOT, COSTCO, LOWE’S, SAM’S CLUB, TJ MAXX, HOMEGOODS, KOHL’S, MACY’S, TRADER JOE’S, MCDONALD’S, CHICK-FIL-A AND MANY MORE.

Description

Jonna Group at Colliers has been selected to exclusively represent for sale the trophy Whole Foods located in Kentwood (Grand Rapids), Michigan. Whole Foods signed a new 20-year NNN lease that is corporately guaranteed by Whole Foods’ parent company Amazon, Inc. (S&P AA). The lease features attractive seven five-year options and includes 10% rent increases every five years in the base and option periods. Whole Foods is a subsidiary of Amazon and consists of over 500 locations in the United States as well as 7 in the United Kingdom.

Whole Foods is located with high visibility and frontage on the hard signalized corner of 28th Street and Radcliff Avenue SE, averaging a combined total of 38,400 vehicles traveling per day. The subject property is located within a dense retail trader zone and includes several national tenants in the immediate vicinity including: The Home Depot, Costco, Lowe’s, Sam’s Club, TJ Maxx, HomeGoods, Kohl’s, Macy’s, Trader Joe’s, McDonald’s, Chick-fil-A and more. The sits adjacent to Woodland Mall, a 976,000+ SF Taubman designed super-regional shopping mall and The Shops at CenterPoint, a 575,000 SF open air shopping center that was recently redeveloped. The subject site features dense surrounding demographics with 214,000 people in a 5-mile radius. It is also located in an affluent Grand Rapids MSA city of Kentwood that has an average household income of over $82,000, well above the national average.

Kentwood (Grand Rapids), MI


Year Built: 2022
Building Size: 40500sq ft
Lot Size: 4.22 acres

Map of 2897 Radcliff Avenue SE, Grand Rapids, MI, 49512

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