Kalamazoo, MI Cleeman Realty Group brokered the off-market sale of a single tenant net lease D&W Fresh Market grocery store. The property is located on 2.3 acres and consists of 29,000 s/f. D&W Fresh Market is a subsidiary of SpartanNash and operates 11 stores in the Michigan area. The tenant has been at this location since 1998.

Michael Cleeman and Sam Seelenfreund of Cleeman Realty Group represented the buyer and seller.

“The buyer was attracted to the strong sales volume at the store and the NNN lease that has no landlord obligations,” said Cleeman.

“The seller felt this was an opportune time to exit the investment as single tenant grocery assets have continued to see a compression in cap rates these past few months,” said Seelenfreund.