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SRS Real Estate Partners sells Kalamazoo grocery property for $6.92M

The 29,000-square-foot site at 2103 Parkview Avenue is leased to D&W Fresh Market through 2031 under a corporate-guaranteed absolute triple net lease.

Reported · Written up by our desk · Commercial

ConnectCRE reports that SRS Real Estate Partners has completed the sale of a single-tenant grocery property in Kalamazoo, Michigan for $6.92 million.

The asset is a freestanding 29,000-square-foot property on 2.33 acres at 2103 Parkview Avenue, occupied by D&W Fresh Market, which is operated by a subsidiary of C&S Wholesale.

The property is held under a corporate-guaranteed absolute triple net lease, and the current lease extends through 2031, with about five years remaining and three five-year renewal options.

SRS Capital Markets Senior Vice President Jeff Gates represented the seller, a Toronto-based investor group, while the buyer was described as an institutional investor.

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