5924 W Saginaw Hwy
Lansing, MI 48917
Mattress Firm & Vitamin Shoppe · Retail Property For Sale

Marcus & Millichap is pleased to present two-tenant asset featuring Mattress Firm and Vitamin Shoppe in Lansing, Michigan; the fifth largest city in the state, and also the state capital. Both tenants are operating under net leases reimbursing for their pro rata share of real estate taxes, insurance, and common area maintenance, plus a 10 percent admin fee. Both tenants signed 10-year leases with 10 percent rent increases every five years. Mattress Firm has seven years remaining and Vitamin Shoppe has eight years remaining. Both leases are backed by corporate guarantees. Mattress Firm Holding Corp operates more than 3,400 corporate stores nationwide and is a wholly owned subsidiary of Steinhoff International Holdings, Naamloze Vennootschap (NV). Vitamin Shoppe Industries, Incorporated operates 775 corporate retail locations across the country. The subject property is a pad site to the Lansing Mall. This 890,000-square foot mall is anchored by a 12-screen Regal Cinemas, which also features an IMAX theatre. Other major tenants in the mall include: TJ Maxx and JC Penney. This asset is highly visible along Saginaw Highway; with more than 130 feet of frontage, more than 38,000 vehicles pass by daily. This dense corridor has more than three million square feet of retail space anchored by strong national tenants such as Target, Walmart, Kroger, ALDI, Lowes Home Improvement, and Hobby Lobby. Less than one mile east is a proposed $10 Million Retail Redevelopment Project. Additional tenants in the immediate vicinity include: Kohl’s, Menards, PetSmart, Dunkin’ Donuts, Steak ‘n Shake, Buffalo Wild Wings, PNC Bank, Walgreens, FedEx, UPS, Planet Fitness, Bed Bath & Beyond, Burlington Coat Factory, Bank of America, Chase Bank, Harbor Freight Tools, Chickfil-A, Meijer, Panera, Best Buy and many more.