Sale-Leaseback 3 Asset Portfolio

Industrial for Sale
Catylist Listing ID: 30393002
Property Subtypes: Free-Standing
Building Size (RSF): 193,121 SF
Gross Building Area: See Agent
Gross Land Area: 0.01 Acres
Sale Price: $12,000,310
Unit Price: $62.14 PSF
Docks/Doors: 12 Docks, 15 Doors
Property Use Type: Investment
Building Name: Hatch Stamping
Sale Terms: Other
Cap Rate: 7.75%
Last Updated: 4/18/2019

Overview / Comments

The subject opportunity is a three-building sale-leaseback to Hatch Stamping Company. A Metro Detroit-based metal stamping firm located in Chelsea & Spring Arbor, Michigan. Hatch Stamping Company will sign a 15-year, corporately-guaranteed, absolute net lease upon disposition of the assets. The proposed lease rate for the offering has a weighted average of $4.82/psf absolute net, which reflects the market rate.
Buildings included are as follows:
*635 E. Industrial Dr., Chelsea 114,991 sq. ft.
*570 Cleveland St., Chelsea 52,532 sq. ft.
*190 W. Main St., Spring Arbor 25,598 sq. ft.

Additional Details

Nearest MSA: Ann Arbor
County: Washtenaw
Submarket/Township: Washtenaw W of 23
Tax ID/APN: cpixtax
Parking Description: Ample Parking
Sprinklers: None
Heat Type: Other
Heat Source: Other

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 3,011 7,800 16,752
Median Age: 45.26 45.67 44
Households: 1,391 3,324 6,448
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