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PetSuites of Detroit

45237 Grand River Ave, Novi, Michigan, USA Map
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New Construction Corp Guaranty by NVA, JAB Holdings Subsidiary - Recession & E-Commerce Resistant Tenant - High Income Area

Listing Price $4,294,400

Status Closed
Lease Type Absolute Net
GLA (Sq. Ft.) 10,980
NOI $268,400
Lease Term Remaining 20.2 Years
Increases CPI Increases Every 5 Years
Options Five, 5-Year Options
State (BOR) MI
Broker of Record Steve Chaben
License # (BOR) Lic.#6502387903
Close Date Apr 16, 2021

Investment Highlights

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  • Subject is Currently Under Construction, Proposed to be 10,980-Square-Feet of Gross Leasable Area on a 2.48-Acre Lot, with Rent Commencement Projected December 2020
  • Tenant PetSuites of America is Owned by National Veterinary Associates, Inc., NVA Was Purchased in 2019 by JAB Holding Co. | JAB Holding Has a Credit Rating of A- by S&P
  • Absolute NNN Lease with 20 Years Base Term and CPI Increases | Zero Landlord Responsiblity

Investment Overview

Marcus & Millichap, on behalf of Ownership as its exclusive advisor, is pleased to offer for sale the 100% interest in new, build-to-suit, PetSuites absolute net lease investment located at 47025 Grand River Avenue, Novi, Michigan 48374 (the “Property”). Built in 2020, and expected to deliver by December, the Property comprises a +/- 10,980 SF building on a highly visible +/- 2.48-acre parcel, that is strategically positioned to be easy to access for 45,300 vehicles per day at the intersection of Beck Road and Grand River Avenue, surrounded by residential and commercial development.

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This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2020 Marcus & Millichap and Limon Net Lease Group

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