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|Current / Passing Rent||
|Remaining Term||5 years, 7 months|
|Tenant||JoAnn Fabrics Corporation|
Single-tenant Joann Fabrics and Crafts store for sale located on the premier outparcel of The Home Depot adjacent to I-94. The only Joann store within a 7-mile radius, it serves over 315,000 residents. Nearby retailers include Meijer, Kroger, Taco Bell, CVS, and McDonald’s. Traffic is generated from both Detroit’s “East Side” and an exit ramp off the highway just 700 feet from the property.
- Fee simple interest
- Property includes an NN lease with six years remaining
- Four 5-year options for renewal with rental increases in the option terms
- Minimal landlord responsibilities
- Leased to Joann Stores, Inc. corporate