Cushman & Wakefield and RealINSIGHT Marketplace are pleased to present the sale of a Sears store, including a two-story department store and one-story auto center, located at Twelve Oaks Mall in Novi, Michigan (“Property” or “Store”). Attached to Twelve Oaks Mall which is owned by Taubman Centers (“Mall”), the Store is comprised of 244,839 square feet (216,539 square feet Dept. Store / 28,300 square feet Auto). Sears presently occupies the space on an owner/ user basis.
The Property is excellently well positioned along Novi Road at the intersection of I-96 in Oakland County. The Novi Road / 12 Mile Road / Grand River Avenue corridor is a highly developed retail district offering shoppers nearly countless options in both mall and shopping center settings. The Property benefits from a powerful retail consumer draw to the nearby intersection of 12 Mile and Novi Roads. The intersection is surrounded by well-occupied shopping centers serving the surrounding rooftops. Restaurants and cafes are numerous with a wide range of dining and spending options. Daily traffic counts at the intersection top 30,000 vehicles. Tenants seeking space in the market recognize the benefit of these drivers serving approximately 54,000 and 159,000 people within a 3 and 5 mile radius.
Twelve Oaks Mall is a super-regional shopping mall with over 180 stores. Taubman Centers is the owner and manager of the mall, and it is anchored by Macy's, Lord & Taylor, Nordstrom, JCPenney as well as Sears. It is among the largest malls owned by the Taubman Corporation and one of the largest in Michigan for gross leasable area and total stores. The mall completed a major remodel and expansion in 2007.Potential investors are afforded a unique opportunity to acquire fee simple ownership and evaluate repositioning with sale-leaseback alternatives.
Disclaimer: The information being provided herein is for informational purposes only. No representation or warranty is made as to the accuracy or completeness of any information contained herein, including, without limitation, any information regarding the condition of the Property, the condition of title or Property descriptions.
Any documents and/or pictures posted herein or elsewhere on the RealINSIGHT Marketplace, (the "Website") are for informational purposes only, and may not represent the current condition of the Property or the condition of the Property at the time of sale. The posting of pictures herein or elsewhere on the Website does not constitute a guarantee that any items represented in the pictures will be present when the buyer takes possession of the Property.
You are encouraged to conduct your own due diligence and investigate all matters relating to the Property. It is recommended that you seek independent advice, including legal advice, to perform your due diligence and that you use good faith efforts in determining that the content of all information provided to or obtained by you is accurate.
27600 Novi Road, Novi, MI 48377
Platform fee for this transaction is 5.00% or a minimum of $25,000.