Highlights

• Stable Investment: GSA and Dialysis Tenants Generally Stay at a Facility for 20+ Years
• U.S. Federal Government Credit - Highest Quality Credit Available in an Investment
• Fresenius is Rated BB by Standard and Poor's and Ba1 by Moody's

• Extremely Attractive Newer Construction Single-Story Building
• 41% of Hamtramck's Population is Foreign Born - Michigan's Most Internationally Diverse City
• Excellent Access to Public Transportation as well as the Area's Freeways

Description

Marcus & Millichap is pleased to present this 17,000 square foot investment opportunity located in Hamtramck, Michigan. This attractive office building, located on Conant Street in bustling Hamtramck, is leased to two truly recession resistant tenants. The United States Social Security Administration occupies approximately 7,224 Square Feet and Fresenius Medical Care occupies approximately 9,276 Square Feet of space at the other end of the building. There is an additional 500 square foot vacant suite in the middle of the building that provides an owner with lease up opportunity. The property has excellent frontage and access on Conant and is surrounded by a densely populated residential neighborhood. Additionally, the Saint Joseph Mercy Elderly Home is located directly across the street, which supports the tenancy.

Hamtramck is a politically independent and ethnically diverse enclave surrounded by the City of Detroit. It was settled in the early 1920's by German and Polish immigrants who were attracted by the expanding automobile industry. Throughout the City's history, however, it has been a harmonious mix of ethnic groups. The City's logo of "A League of Nations" truly reflects this idea. Today, the City is still largely engaged in manufacturing, albeit more diversified in products. Most of the housing, though old, is freshly painted and modernized reflecting pride of ownership by immigrants. Joseph Campau, the main commercial artery in the community, flourishes with many shops and stores featuring articles not found elsewhere. There is easy access to I-75 Freeway, which parallels the city's western boundary, and interstate 94 Freeway located just to the south. Conrail and Grand Trunk & Western provide railroad access.