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First National Realty Partners Secures Lease Agreement With Michaels In Canton, Michigan

Property Image
LEASED

Michigan

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Retail17,514 SF
Leased 05/09/2024
the dealdetailscomps
Property Image
LEASED

First National Realty Partners Secures Lease Agreement With Michaels In Canton, Michigan

46051 Michigan Avenue

See Similar Deals
Retail17,514 SF
Leased 05/09/2024
the dealdetailscomps

Summary

MICHIGAN
Asset Type:Retail
Price Per Square Foot:$0
Total Square Footage:17,514 SF
Transaction Type:Lease

The retail property located at 46051 Michigan Avenue in Canton, Michigan, spans a total of 17,514 square feet. This retail space was successfully leased to Michaels, a renowned craft supplies provider, filling a prime location previously occupied by an office retailer. The lease agreement was secured by Fred Battisti and Sam Collier of First National Realty Partners, solidifying Premier Center as a premier shopping destination in the area.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: Not provided
  • Landlord: Fred Battisti & Sam Collier - First National Realty Partners
  • Tenant: Ashley Buchanan - Michaels

First National Realty Partners' agility in capturing market opportunities was demonstrated through the successful leasing of the retail space to Michaels. The addition of Michaels to the tenant mix at Premier Center in Canton, Michigan, meets the increased demand for arts and crafts supplies, driven by the rise in DIY projects during the COVID-19 pandemic.

Details

LEASED
IMAGE: 05/09/2024 ADDRESS: 46051 Michigan Avenue MARKET: Canton, Michigan ASSET TYPE: Retail ~ SF: 17,514 LANDLORD: Fred Battisti & Sam Collier - First National Realty Partners TENANT: Ashley Buchanan - Michaels (@MichaelsStores) NOTE: First National Realty Partners has successfully secured a lease agreement with Michaels at Premier Center in Canton, Michigan, achieving full occupancy and solidifying the center as a premier shopping destination. Michaels, a leading craft supplies provider, opened in March, filling a prime 17,514-square-foot retail space previously occupied by an office retailer. The addition of Michaels complements the existing tenant mix and responds to the increased demand for arts and crafts supplies driven by the surge in DIY projects during the COVID-19 pandemic, highlighting FNRP's agility in capturing market opportunities.

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Deal Type
Effective Rent (Annual)

$1,003,891.91

Total Lease Value

$10,038,919.11

Net Landlord Cash Flow$1,003,891.91