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JLL is pleased to exclusively offer the opportunity to acquire a two-tenant retail property leased to Family Dollar and Jimmy Jazz in the Detroit, MI MSA. Family Dollar has been at this location since 2009 and in March of 2019, they extended their lease 10 years, demonstrating a commitment to the location. Jimmy Jazz just executed a brand new 10-year lease. Rent commenced in May 2020 and their lease features attractive, 2.00% annual rental increases. Both tenants have two (2), five (5) year options that remain.
The property benefits from surrounding retailers such as Lowe’s, The Home Depot and McDonald’s. Additionally, mall traffic in and around the area contributes to the 24,450 vehicles that pass the premises daily.
- Family Dollar & Jimmy Jazz both have new 10-year leases in place and future rental increases of 22.00% and 2.00%, respectively; each tenant also has two (2), five (5) year options remaining
- The two-tenant building is surrounded by nationally recognized retailers such as Lowe’s, The Home Depot and McDonald’s, further increasing traffic in and around the area
- The location benefits from a 3-mile population of over 163,741 and an average household income of $68,589
- Harper Woods is located in the Detroit MSA and is situated just 12 miles from the city’s CBD
- The Property is situated along Eight Mile Road – one of the main thoroughfares that has exposure to over 24,450 VPD