This Industrial Property is Off-Market.

11971 Investment Drive
Shelby Township, MI 48315 ·

48,648 SF · Industrial For Sale

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Magna Closures

Price N/A Cap Rate 8%
Building Size 48,648 SF Occupancy 100%
Property Type Industrial Tenancy Single
Property Sub-type Manufacturing Lot Size 3.10 AC
Property Use Type Net Lease Investment with 5 years left on lease
Listing ID: 15571221 Date Created: 02/19/2008 Last Updated: 09/15/2008

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.

Research

11971 Investment Drive, Shelby Township, MI 48315 (Macomb County)

Property Record Data - Historical Listings, current tax, mortgage, owners & tenant info for this property

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