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Advanced Auto Parts Sells in Mich.

JENISON, MI—Properties that are valued below $2 million are receiving the most activity from the private buyer and 1031 exchange sectors.

By Brian J. Rogal | Updated on December 02, 2013

JENISON, MI—The Boulder Group, a net leased investment brokerage firm in suburban Chicago, has just completed the sale of a single tenant net leased Advanced Auto Parts property located at 600 Baldwin St. in Jenison, MI for $1,415,000.

Advance Auto Parts occupies the entire 7,000-square-foot retail building. Developed in 2005, it sits on a 44,867-square-foot parcel on Baldwin St., a heavily trafficked roadway with 28,000 vehicles passing the site daily. Advance Auto Parts originally signed a 15-year lease. It has seven years remaining and a ten percent rental escalation in the primary term.

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