Catylist ID: #30325015
Village at Wexford
Shopping Center for Sale
|Catylist Listing ID:||30325015|
|Property Subtypes:||Community Center, Neighborhood Center, Outlet Center, Power Center, Regional Mall, Strip Center|
|Building Size (RSF):||72,450 SF|
|Gross Building Area:||See Agent|
|Unit Price:||$34.51 PSF|
|Property Use Type:||Net Leased Investment (NNN), Investment|
|Sale Terms:||Cash to Seller|
Overview / Comments
NAI Wisinski of West Michigan, on behalf of ownership, is pleased to offer for sale to qualified investors the opportunity to acquire the Village at Wexford, a stabilized and well positioned retail center in Cadillac, Michigan.
The Village at Wexford is anchored by Family Farm & Home and Goodwill, which have occupied the center since 2013 and 2007. Both perform well at this location with strong sales numbers. A diverse rent roll of 13 different tenants provides stability to the center and mitigates rollover risk. The center can be purchased well below replacement cost, with current lease rates below market in many cases. Recent capital expenditures include both the parking lot and roof, minimizing risk for a buyer. Both current and historical occupancy point to a long term stable investment with upside potential.
The Village at Wexford is located in Cadillac’s main retail corridor, with excellent co-tenancy and strong traffic counts. The center is well positioned to be a stable investment for the foreseeable future.
Few opportunities exist in the market toady to obtain a well occupied, cash flowing asset with the level of stability and upside present at the Village at Wexford.
|Proximity:||3 miles||5 miles|
|The information presented herein is provided as is, without warranty of any kind. Neither Commercial Alliance of REALTORS West Michigan nor Catylist Real Estate Software, Inc. assume any liability for errors or omissions.|