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Retail
Chesterfield Commons
New Baltimore, MI
111,925 SqFt
Built in 1990
Suburban Core
Investment Highlights
- 100% Occupied, 111,925 SF Grocery-Anchored Community Shopping Center in New Baltimore, MI (Detroit MSA)
- Anchored by Top-Performing Kroger Store with Outstanding Sales. Massive $1,041 PSF Sales in CY2024; Total Reported Sales of $76.9 Million in CY2024 on 73,860 SF GLA
- Kroger Occupies 78.8% of GLA, Driving 63.3% of Gross Income, and Providing 20.5 Years of Remaining Term
- WALT of 17 Years and Weighted Average Tenancy Tenure of 31 Years; 99% of GLA In- Place 10+ Years & 89% of GLA in Place 18+ Years
- Future Kroger Store Expansion Plans (Drawings Completed) Offer Potential to Further Increase NOI by $57K
- Diversified Small-Shop Rent Roll with All Short-Term Leases & Several Naked Leases Presents Several Near- Term Mark-to-Market Opportunities
- Offering Includes 4-Tenant Strip Center; 3 of 4 Tenants are Nationals – Verizon, GameStop, Great Clips; All Expiring 2026-2028 with No Options
- Pride of Ownership Asset with Limited Landlord CapEx & Maintenance Responsibilities
Exclusively listed by
Broker of Record
Steve Chaben
Senior Vice President / Regional Manager
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