Whole Foods (Amazon) | S&P AA

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