Colliers Finds New Space for Taco Bell in West Michigan
- Oct 31, 2019
Colliers International’s Senior Vice President Mike Murray has facilitated the opening of a new Taco Bell in West Michigan. The company, which is leading leasing efforts at several shopping centers over the summer, helped the retailer find land in Caledonia, Mich., to build its 55th restaurant in the area. Wolverine Building Group will be the contractor of the project, having teamed up with Taco Bell several times before.
Located at 6445 Cherry Meadow Drive SE, the new restaurant will be the first dining establishment opening in Caledonia since 2006. The property will encompass 2,710 square feet and is expected to provide 40 new jobs for the area. The opening date is set for November.
Colliers International has been working with Taco Bell for over a decade. The retailer’s expansion comes a few months after cap rates in the quick service restaurant market dropped to their lowest point ever. According to The Boulder Group’s QSR Net Lease Report for the second quarter of the year, cap rates for Taco Bell properties averaged 5.43 percent midyear.
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