Bison Hollow Shopping Center

Highlights:

• STRONG ANCHOR TENANTS Bison Hollow is 100% leased to a strong credit rent roll of national anchor tenants: Kohl’s has been a tenant at the center since its development in 2004, and have recently demonstrated their commitment to the location with a roof replacement at their cost in 2021 and by exercising a 5-year renewal option in 2024 extending their lease term to January 2030. Kohl’s has a revenue of $16.2B (TTM 2025) with over 1,100 stores nationwide, and this stands out as a strong location, ranked 58th percentile in the chain (per Placer.ai). TJ Maxx is the newest tenant at the center having signed a new 10-year in 2024, relocating from within the trade area. The company is the world’s largest off-price apparel and home fashion retailer, with revenue of $55.6 billion (TTM 2025) and an A credit rating. Michaels is a privately owned arts and crafts retail chain, North America’s largest provider of arts, crafts, framing, floral, and wall décor, operating over 1,300 stores in the U.S. and Canada. This location ranks #3 out of 37 Michigan locations and in the 85th percentile of the chain (per Placer.ai).
• SIGNIFICANT SEASONAL POPULATION | LARGE TOURISM DRAW Traverse City, famously known as the “Cherry Capital of the World,” draws over 7 million visitors annually from across the country with $1.4 billion in economic impact from tourism. The region is celebrated for its natural beauty, including freshwater beaches, vineyards, premium golf courses including two of the top 100 in the US, and its proximity to Sleeping Bear Dunes National Lakeshore. Downtown Traverse City offers a charming, walkable environment filled with popular restaurants, boutique shops, and attractions. Notably, Great Wolf Lodge Water Park is located directly north adjacent to Bison Hollow, a major family destination that generates 500,000 visitors per year.
• EXCELLENT AND GROWING CUSTOMER BASE Bison Hollow is surrounded by a desirable residential population within a 10-mile radius totaling nearly 92,000 residents that earn average household incomes of $115,000. The population in Traverse City has seen exceptional growth with the area growing 5.6% since 2014, outpacing the state.
• PROMINENT RETAIL MARKET | EXCELLENT ACCESS & VISIBILITY Ideally located along US 31 commercial corridor, Bison Hollow is positioned at the heart of Traverse City’s largest trade area. With daily traffic counts exceeding 25,000 vehicles, the center benefits from excellent visibility and convenient access. US 31 serves as the primary thoroughfare into Traverse City, particularly for the high volume of summer visitors. The Traverse City regional trade area encompasses more than 2.5 million square feet, and is anchored by the Grand Traverse Mall, a Brookfield owned 750,000 square foot enclosed regional mall featuring Target, JCPenney, Old Navy, and Dunham’s Sports. Other national retailers in the area include Walmart, Best Buy, Home Depot, ALDI, HomeGoods, Sam’s Club, Hobby Lobby, Lowe’s, AMC Theatres, Meijer, and many others.
• RECENT LEASING ACTIVITY AND STRONG TENANT RETENTION Bison Hollow has seen strong leasing momentum over the past year, highlighted by TJ Maxx backfilling the former Bed Bath & Beyond space at significantly higher rental rates. In addition, both Kohl’s and Michaels, who have each anchored the center since its development in 2004, demonstrated their long-term commitment to the center by recently exercising 5-year renewal options—Kohl’s to 2030 and Michaels through 2029.

Description:

Mid-America Real Estate Corporation, in cooperation with Mid-America Real Estate – Michigan, Inc., has been retained on behalf of the owner to sell the 100% fee simple interest in Bison Hollow Shopping Center. The offering represents a rare opportunity to acquire a 100% leased regional center fully occupied by three national tenants and strategically located in the heart of the dominant regional trade area serving the fast growing Traverse City area.

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