Auburn Hills, MI - Jared Jewelry

Description:

SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN, free-standing, Jared Jewelers investment property located in Auburn Hills, MI (Detroit MSA). The tenant, Sterling Jewelers Inc. (dba Jared Jewelers), recently exercised their second of three option periods, providing firm term through December 2029. The lease features a 90% FMV rental increase at the beginning of the next option, growing NOI
and hedging against inflation. The lease is absolute NNN with zero landlord responsibilities, making it an ideal, management-free investment opportunity for a passive investor. Founded in 1910, Jared is among the leading diamond and jewelry retailers with over 200 stores across the U.S.

Jared is strategically located along Baldwin Road with clear visibility and access to an average of 35,600 vehicles passing by daily. The property also fronts Interstate 75 (88,900 VPD), making it a centralized location with easy access. The subject ideally lies as an outparcel to the Great Lakes Crossing Outlets, a 1.355M+ SF Outlet Center anchored by Bass Pro Shops, AMC Theaters, Burlington, and others, and is 0.5 miles south of Baldwin Commons Shopping Center (388K+ SF), anchored by Kohl’s.
The dense retail trade area is supported by Costco Wholesale, Target, Meijer, Home Depot, Menards, ALDI, Best Buy, and others. The strong tenant presence drives a steady stream of loyal, local consumers, promoting crossover exposure and contributing to the local economy. Furthermore, the property is near numerous single-family communities and multi-family complexes including Mosaic of Auburn Hills (89 units), Baldwin Square (90 units), Auburn Gate (584 units), and others, providing a direct residential consumer base. The 5-mile trade area is supported by over 132,900 residents and 88,700 daytime employees with an affluent average household income of $100,890.