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11971 Investment Drive, Shelby Township, MI 48315
48,648 SF | Industrial
Industrial Property - Off Market
- Building Size:
- 48,648 SF
- Property Type:
- Property Sub-type:
- Property Use Type:
- Net Lease Investment with
- 5 years left on lease
- Cap Rate:
- Lot Size:
- 3.10 AC
- Listing ID
- Last Updated
- over 1 year ago
Marcus and Millichap is pleased to announce for sale a 48,648 SF single tenant industrial building. The property is occupied by Magna Closures of America, which is on a 7 year lease that expires February 28, 2013.
Magna Closures of America is a subsidiary of Magna International. Magna International Inc. (TSX: MG) is a Canadian company based in Aurora, Ontario. It is Canada's largest automobile parts manufacturer, and one of the country's largest companies. It also owns the successful Magna Steyr automobile production company of Austria.
Magna Closures of America, Inc. has 5 years left on their double net lease term, with annual rental increases of 2%. It is a double net lease (LL is responsible for roof and structure) with two options to extend for a minimum of three months and a maximum of 5 years.
Contact listing agent for further details.
This investment asset, which is located off of M-53, is situated in thriving Shelby Township with a median household income of over $100,000 within a one mile radius. The location is in the high-growth central corridor of rapidly growing northern Macomb County. It is minutes from M-59, which is one of the most traveled roads in Macomb County. This highway runs east and west, connecting I-94 to I-75.
Northern Macomb County is one of the fastest growing areas throughout the state of Michigan. In the immediate surrounding area, there are numerous national retailers that cater to the thousands of homes locally. Macomb County is the ninth smallest of Michigan's 83 counties, yet it ranks third in population
with 825,000 residents. It is one of three counties that comprise the Detroit Metropolitan area (one of the top 10 largest metro areas in the US). Among the county's 27 municipalities are included three of the ten largest communities in Michigan: Warren (3rd), Sterling Heights (6th), and Clinton Township.
Map of 11971 Investment Drive, Shelby Township, MI 48315 (Macomb County)
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The information above has
been obtained from sources believed reliable. While we do not doubt its accuracy we have not verified
it and make no guarantee, warranty or representation about it. It is your responsibility to independently
confirm its accuracy and completeness. Any projections, opinions, assumptions, or estimates used are
for example only and do not represent the current or future performance of the property. The value of
this transaction to you depends on tax and other factors which should be evaluated by your tax, financial,
and legal advisors. You and your advisors should conduct a careful, independent investigation of the
property to determine to your satisfaction the suitability of the property for your needs. TB-P