Orchard Plaza

Retail / ±185,649 SF / Byron Center, MI

Purchased   the   retail   shopping   center   from   C-III   in September 2018. The property was constructed between 1993-1995 and is  comprised of two retail buildings: a 115,662 square foot dark K-Mart (leased through October  2019) and a 69,987  square foot multi-tenant in-line retail building anchored by Tractor  Supply, which recently signed its lease through  March 2028. OrchardPlaza was 36% physically and 98%economically occupied at acquisition. One month after acquisition, K-Mart filed for bankruptcy protection and stopped making the rental payments under its lease.  Premier subsequently sold the K-Mart box to U-Haul for three quarters of its initial investment and plans to monetize the100% occupied multi-tenant in-line building.