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Best Buy - Availability Details

5216 West Saginaw Highway, Lansing, MI 48917

This is an opportunity to acquire the fee simple interest in a single tenant property leased to Best Buy (the “Property”) in Lansing, MI. Best Buy has been at this location for almost 20 years and has two (2) years remaining on their Lease, with two, five-year options remaining.  The next option has an attractive 7.4% rental increase upcoming. Best Buy (NYSE: BBY), boasting BBB (S&P) an investment grade credit rating, is the world’s largest multi-channel consumer electronics retailer. Last quarter Best Buy had a domestic revenue of $15.4 billion, a 11.2% increase versus last year. The Fortune 500 company has had three consecutive years of total sales/revenue growth.
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Location

  • City Lansing, MI
  • Neighborhood Waverly
  • Zip Code 48917
  • Market Detroit

Contacts

broker

Marc Mandel

Forged Real Estate

(610) 608-2621

broker

Steve Schrenk

Forged Real Estate

(610) 608-2621

broker

Marco DiPrinzio

Forged Real Estate

(610) 608-2621

Highlights

  • Best Buy has been operating at this location for almost 20 years and has two (2) years remaining on their Lease, with two, five-year options remaining. The next option has an attractive 7.4% rental increase upcoming.
  • Lansing, MI is a part of the Lansing-East Lansing MSA, which is the third largest MSA in the state and is home to over 550,000 residents. The Lansing area supports numerous educational institutions, led by Michigan State University, with a total student body exceeding 62,000.
  • Best Buy is situated as an outparcel from the 700,000 square foot Lansing Mall, along West Saginaw Highway and adjacent to Elmwood Drive (11,860 VPD). West Saginaw Highway is a major thoroughfare in the retail trade area, boasting over 30,700 VPD.
  • Best Buy (NYSE: BBY), boasting an investment grade credit rating, BBB (S&P), is the worlds largest multi-channel consumer electronics retailer. Last quarter Best Buy had a domestic revenue of $15.4 billion, a 11.2% increase versus last year. The Fortune 500 company has three consecutive years of total sales/revenue growth for Best Buy.
  • Additionally, a full interchange with I-96 / I-69 and W Saginaw Hwy is located just 1.5 miles to the west of the property, and a full interchange with I-496 is located just over 1.5 miles to the south of the property, providing convenient access to the Best Buy for travelers and commuters alike along the western side of Lansing.
  • The Property is surrounded by a host of nearby, national retailers such as: Target, ALDI, Meijer, Burlington, TJ Maxx, Dollar Tree, Walgreens, CVS Pharmacy, McDonalds, Panera Bread, LongHorn Steakhouse, Hobby Lobby, Ashley Home Furniture, OReilly Auto Parts and AutoZone, demonstrating the retail strength and further driving consumers to the area.

Frequently Asked Questions

What year was Best Buy built and finished?

Best Buy was completed in 2002.

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