Wyoming, MI - Goodwill

Description:

SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN, corporate signed, freestanding Goodwill investment property located in Wyoming, MI (Grand Rapids MSA). The tenant, Goodwill Industries of Greater Grand Rapids, Inc., has over 9 years of firm term remaining with an additional 2 (5-year) option periods left to extend. The lease features 2% annual rental increases throughout the initial term, growing NOI and hedging against inflation. The lease is absolute NNN and is signed by the corporate entity, making this an ideal, management-free investment opportunity for a passive investor. Founded in 1902, Goodwill operates one of the largest social enterprises in North America, offering affordable goods, providing job training programs, and providing a variety of community-based services.

Goodwill is strategically located near the signalized, hard corner intersection of 28th Street SW and Clyde Park Avenue SW, averaging a combined 44,900 vehicles passing by daily. The property also benefits from direct access onto U.S. Highway 131 (116,000 VPD), making it a centralized location with easy commutes. Goodwill is strategically located within a dense retail trade area and lies as an outparcel to Rogers Plaza Town Center, a 407K+ SF Community Center anchored by Harbor Freight, Ross Dress for Less, and AutoZone. The additional surrounding national/credit tenants include ALDI, Wendy’s, Once Upon A Child, O’Reilly Auto Parts, Bank of America, and others. The property is also one mile southeast of GM-Components Holdings, a 1.8M SF manufacturing plant for General Motors. The strong national and regional tenant presence drives a steady stream of loyal, local consumers to the area, promoting crossover exposure and contributing to the local economy. Furthermore, the property is near numerous single-family communities and multi-family complexes including Pinery Park (125 units), Swiss Valley (231 units), HoM Flats at 28 West (386 units), and others, providing a direct residential consumer base. The 5-mile trade area is supported by over 284,900 residents and 164,000 daytime employees, with a healthy average household income of $90,710.