SRS Real Estate Partners completed the $6.92 million sale of a single-tenant grocery property at 2103 Parkview Ave. in Kalamazoo, Michigan.
The 29,000-square-foot freestanding grocery property is situated on 2.33 acres and is occupied by D&W Fresh Market, operated by a subsidiary of C&S Wholesale, under a corporate-guaranteed absolute triple net (NNN) lease.
Originally built in 1955, the current lease extends through Dec. 31, 2031, with approximately five years of remaining lease term and includes three five-year renewal options that could extend occupancy through 2046. With minimal landlord responsibilities, the asset provides stable, passive income backed by a long-established regional grocery operator.
SRS Capital Markets Senior Vice President Jeff Gates represented the seller, a Toronto-based investor group. The buyer was an institutional investor.
D&W Fresh Market has operated at this location for decades, serving the surrounding community while consistently generating high sales per square foot. As an essential retail use, grocery properties have historically demonstrated resilience through changing market conditions, supported by steady consumer demand and recurring shopping patterns.
Located along Parkview Avenue in one of Kalamazoo’s primary retail corridors, the property is surrounded by a strong mix of national retailers and restaurants. More than 152,000 residents and approximately 120,000 employees are within a five-mile radius, providing a substantial customer base that has contributed to the property’s long-term performance.
