Historical Industrial Sale Listing - Magna Closures

Industrial For Sale

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Magna Closures

11971 Investment Drive, Shelby Township, MI 48315

N/A

48,648 SF | Industrial

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Industrial Property - Off Market

Price:
N/A
Building Size:
48,648 SF
Property Type:
Industrial
Property Sub-type:
Manufacturing
Property Use Type:
Net Lease Investment with
5 years left on lease
Cap Rate:
8%
Occupancy:
100%
Tenancy:
Single
Lot Size:
3.10 AC
Listing ID
15571221
Last Updated
over 1 year ago

Description

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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