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Dick's Sporting Goods | Corp NN 5600 Harvey St 45,000 SF 4-Star Retail Building Muskegon, MI 49444 $3,629,000 ($80.64/SF) 7.75% Cap Rate

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INVESTMENT HIGHLIGHTS

New Lease Extension | Corporate Guaranteed Lease | Options To Extend | Scheduled Rental Increases
Anchor Tenant at The Lakes Mall (645,000 SF Retail) | Primary Retail Corridor | Nearby National Credit Tenants

NN Lease | Fee Simple Ownership | Buyer Subdivision | Minimal Landlord Responsibilities
Strong Demographics In 5-Mile Trade Area

EXECUTIVE SUMMARY

SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a NN leased, Dick’s Sporting Goods investment property located in Muskegon, MI. The tenant, Dicks Sporting Goods, Inc., has 4-years remaining of lease term with a four (5-year) option to extend. The lease features a $.25/SF rental increase at the beginning of each 5 year option, growing NOI and providing a hedge against inflation. The lease is NN, with the Landlord responsible for the roof, structure, and liability insurance. Dick’s has enjoyed over 20 years of operating history at this location, having moved to the mall in 2004 and recently exercised a five-year extension, showing their commitment to the site. Dick’s is a junior anchor to the The Lakes Mall and is not yet parcelized. A buyer will be responsible for subdividing the property at their cost during escrow.