- In the past 5 years, 691 multi-family units, including the 331-unit 'Fitzroy Promenade', have been built in the immediate 2- mile radius. In addition, the 34-acre 'Crossroads at Chenal' mixed-use development is set to be completed this year.
- There is 2.7 million square feet of retail space in a 2-mile radius. Located 1 mile north of the subject property is the Promenade at Chenal, a 306,000 sf open-air lifestyle center which is home to popular retailers such as Apple, Lululemon, DSW, and Homegoods.
- Frontage on Chenal Parkway (39,000 VPD) and Wellington Hills Road (5,905 VPD).
- Subject property is located in a dense affluent area with average household income of over $121,000 and a population of more than 45,000 residents in a 3-mile radius.
- Within a 4-mile radius there are three major hospitals with a combined bed count of over 1,066 beds.
Properties
- New 15-year lease signed, including 5% rent increases during 8 (5-year) option periods.
- Placer.Ai ranks this location #1 out of 5 Walgreens stores within a 10-mile radius.
- Located in a dense retail corridor with 4.7 million square feet of retail space within two miles.
- Benefits from a regional military presence of ±82,000 active-duty personnel from 15 installations, including ±23,000 employees at Joint Base Langley-Eustis.
Guthrie, OK
Dallas, GA
- CVS guarantees the rental income which has 5% increases in the options and does not include a rent holiday.
- In 2020, after operating at the location for 14 years, CVS agreed to extend the lease to a rare 20 year firm term before the options showing the strong performance and commitment to the location.
- New developments include over 110,000 square feet of medical space as well as 'Orland Ridge', a brand new 300+ home community located directly across the street.
- Frontage on La Grange Road (38,700 VPD) and 171st Street (14,300 VPD) and with direct access to Interstate 80 (102,900 VPD).
- ±172,000 residents in a 5-Mile radius with an Average Household Income of ±$130,000 within 1-Mile.
- This is the only Walgreens or CVS for over 13 Miles.
- Purcell Municipal Hospital, a brand new $18 million state-of-the-art facility opened in 2022.
- The 5-mile population has grown over 10% over the past four years and is projected to continue expanding at over 3% through 2029.
- Rite Aid is currently paying $9.45 /sf in rental rate, which aligns with the local retail rent of $9.50/sf.
- The subject property supports a rent-to-sales ratio of 1.35%.
- Rite Aid restructured its lease, effective November 1, 2023, to remain open and operational throughout the Chapter 11 proceedings.
- Rite Aid has two 5-year options to extend their lease, each with 10% rental increases.
- Rite Aid has operated successfully at this location since 1988, marking over 36 years of continuous operation.
- Signalized corner in the heart of Clio at the cross-section of West Vienna Street (16,199 VPD) and South Mills Street (4,595 VPD).
- 1.5 miles from MI-75 interchange, connecting Canada to the North and Detroit to the South, with approximately 56,000 vehicles per day.
- Downtown Clio location with over 500,000 square feet of retail space within 1 mile of the Subject Property. Other national tenants in the surrounding area include Tim Horton’s, Chase Bank, Walmart Super Center, McDonald’s, Arby’s, Taco Bell, Applebee’s, and Menards.
- Located just 10 miles north of Flint, Michigan, along Interstate 75. Flint is the largest city in Genesee County, with a population of more than 79,000 residents.
- Existing double-lane drive-thru and 76 striped parking spots.
