Retail

Tel-Twelve

28300-28800 Telegraph Rd Southfield, Michigan United States 48034-7501
Asking Price Contact for pricing
Area Size
NOI Net Operating Income N/A
NIY N/A

Documents

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Attributes

Year Built 1968
Building Area Net

Asset Description

​​​​​​​Address: 28400 Telegraph Rd, Southfield, MI 48034

Property Size:193,850 SF

Year Built/Renovated: 1968/2009

Occupancy: 99%

Anchor/Junior Anchor Tenants: BEST BUY, ULTA, DSW, PetSmart, buybuy BABY, Michaels

Unowned Anchors: Meijer, Lowe's 

Investment Highlights

RECENT LEASING MOMENTUM

  • NEW 10-year lease with buybuy Baby
  • Recent lease renewal with Best Buy
  • Recent lease renewal with PetSmart
  • Recently developed outlot with 15-year Chick-Fil-A Lease


SECURE INCOME STREAM WITH MULTIPLE ANCHOR DRAWING POWER

  •  73% of In-Place Income is from Anchor and Junior Anchor Tenancy


​​​​​​​​​​LOCATED AT INTERSECTION OF TELEGRAPH AND 12 MILE ROADS - TWO OF THE HEAVIEST TRAVELED ROADS IN SOUTHEASTERN MICHIGAN

  • Over 100,000 vehicles per day at this intersection
  • Offers excellent access to I-96 (less than 0.5 miles)


​​​​​​​ABILITY TO BIFURCATE

  • Three outlot buildings allow investors to reduce basis with spin off at accretive cap rates
  • NNN Chick-Fil-A is one of the most sought-after single tenant buildings in the investment community


DIVERSE DESTINATION DEMAND DRIVER

  • 11 different types of retailers exist at Tel Twelve Shopping Center


​​​​​​​FREE AND CLEAR OFFERING

Last Updated Date: 22 Mar 2022

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Last Updated Date: 22 Mar 2022

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