3500 28th St
Kentwood, MI 49512
Art Van PureSleep: Grand Rapids, MI MSA · Retail Property For Sale

PREMIER FURNITURE STORE OPERATOR: Art Van Furniture Inc. is the #1 furniture and mattress retailer in the Midwest. Art Van, which was founded in 1959 by Art Van Elslander, strategically operates across Michigan, Illinois, Indiana, Ohio, and Iowa. The company has grown faster than the furniture industry as a whole, and operates 141 Art Van Furniture stores and 45 freestanding Art Van PureSleep mattress stores as of 2019. CORPORATE GUARANTY: Art Van Furniture’s lease has a corporate guaranty from the parent entity, AVF Parent LLC, which generated revenues in excess of $1.1 billion in 2018. LONG-TERM ABSOLUTE NNN LEASE: Art Van’s corporately–guaranteed, absolute NNN lease has ± 17.5 years of primary term remaining and features a minimum of 2% annual rent escalations throughout the initial term and two 10–year renewal options. EXCELLENT ACCESS & VISIBILITY: The property is strategically positioned with excellent access and visibility along 28th Street Southeast (Traffic Count: 28,000 VPD), which is the primary thoroughfare within the retail corridor, and just down from its signalized intersection with Broadmoor Avenue Southeast (Traffic Count: 27,400 VPD).