Southeast Corner of 14 Mile Road & Crooks Road Clawson (Detroit MSA), MI INVESTMENT HIGHLIGHTS SUBJECT OFFERING id-America Real Estate Corporation, in cooperation with Mid-America MReal Estate – Michigan, Inc. has been retained on behalf of the owner to sell the 100% fee simple interest in Clawson Center in Clawson, Michigan. Location: SEC 14 Mile Road & Crooks Road Clawson, Oakland County, MI Traffic Counts: 14 Mile Road (27,842 VPD) Crooks Road (23,420 VPD) Subject GLA: 130,328 Square Feet Lot Size: 13.47 Acres Anchors: Aldi, Staples, Dollar Tree, Rite Aid, O’Reilly Auto Parts, Burn Fitness, Billings Lawn Equipment Occupancy: 100% KEY FEATURES RECENT LEASING VELOCITY AND STABLE INCOME STREAM – The center is anchored by Aldi, Staples, Dollar Tree, Rite Aid, and O’Reilly Auto Parts, which have a combined remaining weighted average lease term of almost 6 years, granting investors a stable income stream for the years to come. Since 2016, the center has experienced strong leasing velocity adding Billings Lawn Equipment, CosmoProf, My Salon Suite, Joe’s Army Navy Surplus, and Motor City Float to its tenant roster, as well as the recent renewals of Staples, J DeVone’s Hair Today, and H&R Block. Additionally, ownership is working on an early 6-year extension with Aldi, to bring its term through 2034. In correspondence with this early renewal, a substantial renovation project is planned, all paid for by tenant. STRONG SURROUNDING DEMOGRAPHICS – Clawson Center caters to an affluent and densely populated residential market, and a robust daytime office population, which provide a strong base for sales. There are 113,619 residents within three miles of the center with average household incomes of $96,033. Additionally, there are 116,019 workplace employees within a three-mile radius. Oakland County is one of the wealthiest counties in the country with populations over 1 million residents. EXCELLENT VISIBILITY AND ACCESSIBILITY – The center is strategically positioned at the southeast corner of 14 Mile Road and Crooks Road. With combined traffic counts of over 51,000 VPD, these major thoroughfares in Oakland County provide convenient access to the center for residents of Clawson and the surrounding communities of Birmingham, Madison Heights, Royal Oak, and Troy. DYNAMIC RETAIL LOCATION – Clawson Center is located in between two of the state’s top regional trade areas: the Somerset Collection trade area two miles north and the Oakland Mall trade area three miles east. Somerset Collection, an enclosed luxury Class A shopping center anchored by Saks Fifth Avenue, Macy’s, Nordstrom, and Neiman Marcus, is the top performing mall in the State of Michigan and one of the top performing malls in the nation. Oakland Mall is an enclosed shopping center anchored by Macy’s and JCPenney. $ LEVERAGED YIELDS – The property is being offered “free and clear” of any existing debt, providing an excellent opportunity for a buyer to finance the transaction at today’s market rates. DEMOGRAPHIC PROFILE WITHIN 5-MILE RADIUS: POPULATION HOUSING UNITS MEDIAN HOME VALUE DAYTIME POPULATION AVERAGE HH INCOME ESTIMATED 5-YEAR POPULATION GROWTH 300,735 128,487 $186,544 358,001 $101,204 2.2% LEASING PLAN Samoset Road Crooks Road (23,420 VPD) 01A 02A 02B 02D 02E 02F 02I 02J 02L 02N 02O 02P 02M Manitou Avenue Manitou 01B 03A pylon pylon pylon 14 Mile Road (27,842 VPD) Tenant Name Unit Square Feet Tenant Name Unit Square Feet Tenant Name Unit Square Feet Aldi 01A 16,498 Burn Fitness 02F 13,789 CosmoProf 02O 3,059 O'Reilly Auto Parts 01B 8,000 Motor City Float 02I 3,125 Joe’s Army Navy Surplus 02P 5,980 H&R Block 02A 2,565 Hallmark 02J 4,825 Rite Aid 03A 14,564 Staples 02B 24,000 Play It Again Sports 02L 5,371 Total 130,328 My Salon Suite 02D 5,202 J DeVone's Hair Today 02M 1,200 Dollar Tree 02E 8,775 Billings Lawn Equipment 02N 13,375 LOCATION & MARKET • Clawson Center is located in Clawson, Oakland County, Michigan, 15 miles north of downtown Detroit. • Located along two primary Oakland County thoroughfares, 14 Mile Road and Crooks Road, the center is strategically positioned two miles west of a full interchange with I-75 and two miles east of Woodward Avenue, which connects downtown Detroit to the northwest suburbs. • Clawson Center serves a dynamic regional retail market with two established trade areas that complement one another: the Somerset Collection trade area serves an affluent customer base with several luxury retailers, and the Oakland Mall regional trade area, dominated by several top performing national retailers, serves middle-class blue-collar customers. Overall, the retail market has over 6.3 million square feet and features a 94% occupancy rate. Distance from Subject: 1 Mile 3 Miles 5 Miles 2018 Population 14,618 113,619 300,735 Forecasted 2023 Population 14,972 116,292 307,313 DEMOGRAPHIC PROFILE % Change 2018 to 2023 2.4% 2.4% 2.2% 2018 Households 7,344 52,204 128,487 Clawson Center caters to the affluent and growing surrounding Forecasted 2023 Households 7,540 53,470 131,463 communities as shown in the demographic numbers. Additional density % Change 2018 to 2023 2.7% 2.4% 2.3% is added by a strong daytime office population, which adds almost 2018 Median Home Value $158,302 $187,182 $186,544 50,000 people within a 5-mile radius during the work day. A large portion 2018 Daytime Demographics 11,854 163,302 358,001 of this added population comes from Beaumont Health System, which 2018 Average Household Income $70,972 $96,033 $101,204 has almost 12,000 employees, and is located 2 miles west of the asset. 2018 Median Household Income $55,649 $71,506 $72,291 2018 Per Capita Income $35,875 $44,448 $43,405 2018 Median Age 41.8 40.2 41.9 Waterford Auburn Hills Rochester Milton Rochester Hills Chesterfield Hartland ST59 ¦¨§75 Pontiac Point Lakeview Utica Waldenburg ¦¨§94 Milford Bloomfield Hills Sterling Heights Mt Clemens ¤£23 Glengary West Bloomfield Troy Birmingham Fraser Brighton Wixom Warren Roseville ¨§96 ¦ Royal Oak St Clair Shores Southfield Farmington Hills Novi Ferndale Eastpointe South Lyon Oak Park ST102 ST36 ST39 ST5 39 Livonia ST ST53 Redford ST14 Dearborn Heights Westland Dearborn ST153 Canton Tecumseh Inkster Windsor Puce Ann Arbor Wayne ¤£24 Elmstead Allen Park Willow Run Lincoln Park ¦¨§275 Lasalle Taylor 85 ST Maidstone PROPERTY DESCRIPTION • Built in 1959, Clawson Center is situated on 13.47 acres and has 130,328 square feet of gross leasable area. The center underwent substantial renovations in 2015 including the addition of three new monument signs, façade repairs and painting, landscaping updates, and parking lot and sidewalk upgrades. • The center consists of four buildings: three single-tenant buildings and one multi-tenant building with 12 in-line tenant suites. The three single-tenant buildings are occupied by O’Reilly’s Auto Parts, Aldi, and Rite Aid (separately parceled). • Clawson Center features excellent visibility from 14 Mile Road and is accessible from five totals points of ingress and egress: four along 14 Mile Road and one along Crooks Road. TENANCY • Clawson Center is a 100% leased grocery and drug anchored community center that features strong national tenancy with a remaining weighted average lease term of almost 6 years. Ownership is currently working on an early 6-year extension with Aldi, which would extend the average weighted lease term to almost 6.7 years. • The center is anchored by Aldi, Rite Aid, Staples, Dollar Tree, and O’Reilly Auto Parts, which make up 53% of the GLA and 62% of the gross income. Other notable tenants at the center include H&R Block, Play It Again Sports, and Billings Lawn Equipment. Open since 1947, Billings Lawn Equipment is an institution in the area for lawn and garden equipment; the store moved from its longstanding location in downtown Royal Oak in 2018. • Since 2016, the center has experienced strong leasing velocity adding Billings Lawn Equipment, CosmoProf, My Salon Suite, and Motor City Float to its tenant roster, as well as the renewals of Staples, J DeVone’s Hair Today, and H&R Block. Additionally, a lease has recently been executed with Joe’s Army Navy Surplus to take the one remaining vacancy, adding another local institution to the tenant mix. FINANCIAL Clawson Center is being offered “free and clear” of any existing debt, allowing a purchaser to take advantage of the current attractive debt financing climate. In-Place Net Operating Income: $1,673,174 For further information contact owner’s exclusive representatives. Ben Wineman Daniel Stern Principal (a licensed Michigan broker) Direct: 630.954.7336 Direct: 248.855.6800 [email protected] [email protected] This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies..