Asking Price Contact for pricing
Area Size
NOI Net Operating Income N/A
NIY N/A

Documents

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Create an account on the Investor Center to save your search and investment preferences, save and share opportunities, access exclusive documents, and more. More questions? Visit our FAQ. You'll need to sign a Confidentiality Agreement (CA) to access exclusive documents in the Deal Room. Signing the CA means you agree not to divulge or release sensitive information related to this property. More questions? Visit our FAQ.

Attributes

Year Built 1968
Building Area Net

Asset Description

​​​​​​​Address: 28400 Telegraph Rd, Southfield, MI 48034

Property Size:193,850 SF

Year Built/Renovated: 1968/2009

Occupancy: 99%

Anchor/Junior Anchor Tenants: BEST BUY, ULTA, DSW, PetSmart, buybuy BABY, Michaels

Unowned Anchors: Meijer, Lowe's 

Investment Highlights

RECENT LEASING MOMENTUM

  • NEW 10-year lease with buybuy Baby
  • Recent lease renewal with Best Buy
  • Recent lease renewal with PetSmart
  • Recently developed outlot with 15-year Chick-Fil-A Lease


SECURE INCOME STREAM WITH MULTIPLE ANCHOR DRAWING POWER

  •  73% of In-Place Income is from Anchor and Junior Anchor Tenancy


​​​​​​​​​​LOCATED AT INTERSECTION OF TELEGRAPH AND 12 MILE ROADS - TWO OF THE HEAVIEST TRAVELED ROADS IN SOUTHEASTERN MICHIGAN

  • Over 100,000 vehicles per day at this intersection
  • Offers excellent access to I-96 (less than 0.5 miles)


​​​​​​​ABILITY TO BIFURCATE

  • Three outlot buildings allow investors to reduce basis with spin off at accretive cap rates
  • NNN Chick-Fil-A is one of the most sought-after single tenant buildings in the investment community


DIVERSE DESTINATION DEMAND DRIVER

  • 11 different types of retailers exist at Tel Twelve Shopping Center


​​​​​​​FREE AND CLEAR OFFERING

Last Updated Date: 22 Mar 2022

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Last Updated Date: 22 Mar 2022

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