6101 Lake Michigan Dr
Allendale, MI 49401

Greystone Bel, as exclusive advisor, is pleased to present the opportunity to acquire Lofts @ Square 45. Lofts @ Square 45 is a gorgeous mixed-use asset situated on 5.96 acres in one of the fastest growing Metropolitan areas in the country. Made up of two buildings built in 2004, Lofts @ Square 45 has 45 apartment units consisting of 43,252 rentable sq. ft., 16 retail units consisting of 41,593 rentable sq. ft., and .75 acres of buildable vacant land in a very desirable market. Lofts @ Square 45 boasts an attractive unit mix of 13 one bedrooms ranging anywhere from 716 sq. ft. to 874 sq. ft., and 32 two bedrooms ranging anywhere from 917 sq. ft. to 1115 sq. ft. The retail units currently have multiple national tenants on Triple Net leases, such as Snap Fitness, Dollar General, and T-Mobile. Retail units range anywhere from 810 sq. ft. to 8,677 sq. ft. Listed at a 7.10% capitalization rate off 2017 actuals, this is a gorgeous asset located in a beautiful area that won’t last on the market long. Lofts @ Square 45 is located two and a half miles away from Grand Valley State University. Grand Valley State University student enrollment has continued to grow and is currently over 25,000 students in 2016. The amazing location gives residents easy access to retail and shopping, while also giving residents easy access to campus. The building is located on Lake Michigan Drive, which is Allendale’s primary retail corridor. JV Nails, Grand Coney, Allendale Family Vision and many more are all located in the retail space of the building. In addition to being located so close to Grand Valley State’s academic and sporting facilities, Lofts @ Square 45 is positioned within close proximity to the Grand River, John Ball Zoo, Millennium Park and Lake Michigan