9375 Cherry Valley Ave | Caledonia, Michigan | 78,631 SF – Closed March of 2022
Caledonia Village is a 96% leased retail shopping center (78,631 sf on 11.88 acres) which is located in Caledonia, Michigan. Approximately 70% of Caledonia Village NOI comes from space leased to major credit-rated companies which provide essential goods and services (groceries, gas, and drugstore) to the local population. The grocery store is operated by Spartan Nash, a publicly-traded company that is the fourth largest food distribution company in the United States. The drugstore is operated by Rite Aid, and the gas station/convenience store is also owned by Spartan Nash. The remaining 30% of the tenants are also providing goods and services appropriate for the community. Along with the recent growth in Grand Rapids, Caledonia Township is experiencing a period of new growth in population. As of 2020, the population of the five-mile township is 15,000 with a median household income of $111,042. Some of the farmland surrounding Caledonia is currently being developed into new apartments and singlefamily housing. The center is located approximately 8 miles from the Gerald R. Ford International Airport which serves the greater Grand Rapids area. There are plenty of lands available to support the continuation of the growth in the Caledonia area for the foreseeable future.
