Fortis Net Lease

• Newly Developed Meijer Out lot building improved with a 6,500 SF Two Tenant Retail Center
• National Brand Tenants- IHOP and Tropical Smoothie Café with a Drive Thru
• 10 Year NN Leases with increases every 5 years including the options
• Minimal Landlord Responsibilities include Roof and Structure on this new-ly developed property. Parking lot and HVAC are Tenant responsibilities.
• Signalized Hard Corner Location on Harvey St and Independence Dr.

Fortis Net Lease is proud to present a newly developed two tenant retail center with IHOP and Tropical Smoothie Cafe located at 5220 S. Harvey Street in Norton Shores, MI. Both tenants have new ten year NN+ leases and require minimal landlord responsibilities (Tenants are responsible for parking lot and HVAC). Both leases have increases in Year 6 and in each option period. Tropical Smoothie Café has two, five year options and IHOP has three, five year options. The building has been delivered to both tenants and openings are anticipated for early 2018.

The subject property is situated in a major retail area and is surrounded by many national tenants including: Target, Best Buy, Menards, Meijer, Dick’s Sporting Goods, Kohl’s, Hobby Lobby, Party City, JoAnn Fabrics, Bed, Bath & Beyond. Additional retail includes The Lakes Mall, Lakeshore Marketplace and the Lakes Crossing Shopping Center. The population within five miles has over 75,800 residents and has a projected 1.76 per-cent growth rate by 2022. The average household income within one mile is $69,000 and the median home value exceeds $142,000.