SRS Real Estate Partners’ National Net Lease Group has completed the $2.5 million ground lease sale of a 19,744-square-foot single-tenant retail building occupied by Aldi at 39827 S. Groesbeck Highway in Clinton Township, Michigan.
SRS NNLG’s vice presidents Frank Rogers and Michael Carter represented the seller, a Michigan-based private investor. The buyer, a Midwest-based private investor, was also represented by the SRS NNLG Detroit Team.
Built in 2009 and situated on 2.87 acres, the property is corporate-guaranteed by Aldi, Inc., which has about 18 years remaining on its 30-year lease. Aldi is a leader in the affordable grocery industry and operates more than 2,000 U.S. stores in 37 states.
The property is located along a primary retail and commuter thoroughfare serving Clinton Township and the immediate area. It is near other national retailers including Tim Hortons, Sonic Drive-Thru and Advance Auto Parts, among others.
Year-to-date, SRS’ National Net Lease Group has completed more than 400 transactions valued in excess of $1.3 billion and has in excess of $1.8 billion in property on the market.