5053 Dixie Hwy
Waterford, MI 48329

The CBRE Net Lease Property Group is pleased to exclusively offer a 66,178-square-foot free-standing Art Van Furniture situated on 4.60 acres in Waterford, MI, which is a densely developed bedroom community within the Detroit MSA (Population: 4.3 million), the 2nd-largest MSA in the Midwest and 14th-largest in the nation. Art Van' s absolute NNN lease has 19.5+ years of primary term remaining with attractive annual rent increases (lesser of 1.25x CPI or 2%) and four 5-year options to renew. Built in 1972 and recently renovated in 2016, this store has a proven performance history with attractive rent-to-sales and EBITDA coverage ratios. The site is strategically located along Dixie Highway (Traffic Count: 29,565 VPD), within 5 miles of Interstate 75 (Traffic Count: 139,000 VPD). Art Van is also directly across from a shopping center anchored by Ollie' s Bargain Outlet, Dunham' s Sports, Ace Hardware, USPS and Big Kmart and is immediately adjacent to Dixie Diner, Campbell' s Auction and Midas. In total, there is 3.8 MSF of retail, 1.2 MSF of office, 4.0 MSF industrial and 3,919 multifamily units within a 3-mile radius. This store is part of a larger 6-asset Art Van Furniture Master Lease Portfolio. For more information, contact Will Pike.