INVESTMENT HIGHLIGHTS

• DOMINANT RETAIL MARKET: Carillon Centre is positioned in the heart of Portage’s dominant retail corridor, surrounded by over 3 million square feet of retail and anchored by a robust ±97% occupancy rate. The property sits directly in front of The Crossroads Mall and across from national powerhouses such as Target, Home Depot, Sam’s Club, and Best Buy.
• LONG-TERM OCCUPANCY | STRONG CAGR: Over 50% of the rent roll has an average lease term length exceeding 10 years, with tenants like J. Jill, Talbots, Penn Station, QDOBA, Cold Stone Creamery, and America’s Best Eyeglasses averaging ±20 years of occupancy. The stable tenancy assures a steady and growing cash flow with a 10-Year CAGR of 3.31%.
• STABILIZED MIX OF ESSENTIAL AND SPECIALTY RETAIL: Carillon Centre is a 100% leased, ±70,234 SF specialty retail center with a curated mix of e-commerce-resistant and specialty retailers, including J. Jill and Talbots, that drive consistent customer traffic. Both J. Jill and Talbots are regionally unique, with the nearest locations approximately 50 miles away, enhancing the center’s regional pull. Many suites present mark-to-market opportunities, as most tenants do not hold renewal options. This stabilized, high-performing tenancy delivers a reliable income stream while allowing flexibility for future upside.
• HIGH VISIBILITY & STRONG DEMOGRAPHICS: The property benefits from ±900 feet of frontage on Westnedge Avenue with approximately 31,312 vehicles per day, ensuring unmatched visibility and access. The surrounding area includes approximately 109,000 residents with an average household income approaching $101,000—providing strong spending power and tenant support. Additionally, the local daytime population increases by ±16% due to nearby employment centers, generating built-in consumer demand.
• MAJOR EMPLOYERS AND ECONOMIC DRIVERS: The Portage–Kalamazoo region is fueled by a diverse economic base including healthcare, higher education, and advanced manufacturing. Pfizer operates one of the world’s largest pharmaceutical manufacturing facilities in Portage (3,000+ employees). Western Michigan University drives workforce development and innovation (17,000 students, 2,500+ employees). The healthcare sector is anchored by Bronson Methodist Hospital (400+ beds, 8,800 employees) and Ascension Borgess Hospital (422 beds, ±4,000–5,000 employees), while Stryker Corporation—headquartered in Kalamazoo—is a global medical technology leader (2,000–3,000 employees).