Investment Highlights
Great location right on Willits Ave.
Close proximity to Woodward Ave.
Executive Summary
The subject asset is a 25,396 square foot retail condo fully leased to four (4) tenantsincluding two (2) restaurants, a jeweler, and a financial institution. The current weighted averagelease rate and term is $36.33 per sq. ft. and 6.00 years, respectively. The Willits is located in theheart of downtown Birmingham within immediate walking distance of countless businesses,restaurants, high-end retail destinations, and other amenities. The market maintains one the mostsought-after zip codes in Michigan and is situated in the most upscale downtown area of MetroDetroit. Birmingham maintains the lowest vacancy levels of any Michigan retail market, which hasresulted in the state?s highest lease rates for retail space. Notable nearby tenants include UBS,Ethan Allen, Moosejaw, Starbucks, McCann, and more.
