Fresh Thyme Farmers Market – Ypsilanti, MI

Retail

2985 Washtenaw Ave Ypsilanti, MI
Price:
$ 9,894,661
Property Size:
29,332 sqft
Cap Rate:
6.75
NOI:
$ 667,889.64
Lot Size:
3.32 sqft
Year Built:
2016
Status:
Sale

DOMINANT MIDWESTERN GROCER | ESSENTIAL & RESILIENT RETAIL BUSINESS
Fresh Thyme Farmers Market is a dominant midwestern grocer with 73 locations across 11 states. The company, founded in 2012, is backed by an investment from Meijer Companies, Ltd, a privately-owned and family operated company with 245 stores. Meijer is guaranteeing the Lease at the subject property for the first five (5) years and is one of America’s largest private companies, with more than 80,000 employees and approximately $17.4 billion in sales for the year ending January 31, 2018.

LONG TERM COMMITMENT | BUILT-TO-SUIT | FIXED RENTAL INCREASES | PASSIVE NN LEASE
The property was built-to-suit for Fresh Thyme in 2016 with a fifteen (15) year NN lease with landlord responsibilities limited to roof (under warranty until 2036) and structure. With approximately 12.5 years of term remaining, four (4) five (5) year options to extend and 10% fixed rental increases every five (5) years, the property offers a secure long term income stream and a hedge against inflation ideal for both local and out-of-area investors.

STRONG STORE SALES | 5.8% INCREASE FROM 2018
Fresh Thyme’s sales exceeded $13M in the past 12 months (as of April 2020), an increase of 5.8% from 2018. The property’s growing success is a testament to its long term viability and growing customer base within the Ypsilanti market.

SIGNALIZED HARD CORNER LOCATION | DOMINANT RETAIL TRADE AREA LOCATION
The subject property is strategically positioned on the hard corner at the 38,173 VPD intersection of Washtenaw Ave (24,221 VPD) and Golfside Rd (13,952 VPD), providing for strong visibility and easy accessibility. Fresh Thyme is centrally located in the trade area with nearby national retailers including Dollar General, Dollar Tree, T-Mobile, Domino’s, Hertz, Enterprise, At Home, Wendy’s, Taco Bell, Walgreens, O’Reilly, Save a Lot and others.

CLOSE PROXIMITY TO MAJOR YPSILANTI EMPLOYERS | AFFLUENT & DENSE DEMOGRAPHICS
Fresh Thyme is well positioned in the trade area, with major employment centers such as Eastern Michigan University (23,000 students), Washtenaw Community College (1,559 employees), and St. Joseph Mercy Ann Arbor Emergency Room & Hospital (537 beds). Within 5 miles of the subject property, there are 185,547 people,

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The information contained herein has been obtained from sources deemed reliable or implied, is made with respect to such information. Terms of sale or lease and availability are subject to change or withdrawal without notice.

Exclusive Listing

Matt Berres
Executive Managing Director
949.608.2066
Karick Brown
Associate
949.608.2033
Samir Khalil
Director
949.608.2042

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