Kalamazoo, MI
- Located less than half a mile from the Kalamazoo Event Center, a $300 million project expected to break ground in November of 2024.
- Close proximity to WMU which consists of 22,500 students and employs 803 faculty as well as Kalamazoo College with 1,378 students.
- In 2014, Walgreens relocated to this site, building a new prototype store in a high-barrier-to-entry market to enhance visibility, with approximately 42,000 vehicles passing by daily.
- The Kalamazoo area serves as headquarters for Fortune 500 companies Stryker & Zoetis, with over ±1.2 million square feet in office/warehouse space. Additionally, Pfizer maintains a substantial presence in the region with their 1,300-acre manufacturing facility.
- Located less than two miles from the subject property, Bronson Methodist Hospital consists of 434 beds and operates on a 28-acre campus.
- Central Business District, which is located in Downtown Kalamazoo, is home to over 1,000 businesses in the surrounding area.
We are pleased to present the Walgreens property located at 760 W Michigan Ave, Kalamazoo, MI 49007 ('"The Property"') for sale. Walgreens relocated to this site in 2014, constructing a new prototype store in a high-barrier-to-entry market. The Property offers a firm lease term with approximately 9.5 years remaining and eleven (5-year) renewal options. Leased on an absolute triple-net (NNN) basis, this investment guarantees no landlord responsibilities, providing a truly passive ownership experience.
Strategically located in the heart of Kalamazoo, the Property is less than half a mile from one of the city’s most significant upcoming projects, the Kalamazoo Event Center. This $300 million development, expected to break ground by the end of 2024, will feature a 320,000-square-foot facility designed to host over 230 events annually, including sporting events, concerts, and community gatherings. Once completed, it is projected to attract 548,000 visitors per year and contribute approximately $54 million to the local economy. The event center will also serve as the future home for Western Michigan University’s hockey, men's and women's basketball teams, as well as the Kalamazoo Wings hockey team, making it a major attraction for both residents and visitors.
The Property is located at the intersection of Michigan Avenue and Main Street, off two major thoroughfares with ±42,000 vehicles passing daily. This high-traffic area provides direct access to Western Michigan University, which serves approximately ±22,500 students, and major employers such as Pfizer, a global pharmaceutical leader, Stryker, a Fortune 500 medical technology company, and Zoetis, the world’s largest producer of medicine and vaccinations for pets and livestock.
