Everon (fka ADT Commercial) 22325 Roethel Dr 15,957 SF Flex Building Novi, MI 48375 $2,677,013 ($167.76/SF) 7.40% Cap Rate

The Boulder Group is pleased to exclusively market for sale a single tenant net leased Everon property located within the Detroit MSA in Novi, Michigan. Everon, formerly known as ADT Commercial Fire and Security, has successfully operated from this location since 2019. The tenant recently executed a ?ve-year lease extension. The lease features attractive 3.5% annual rental escalations throughout the primary term and 3% annual rental escalations during the renewal options. The lease also contains an additional guaranty from Iris Buyer LLC, an entity affiliated with GTCR private equity.
The 15,957 square-foot building serves as Everon’s Michigan headquarters and the primary branch office/local hub for the company’s commercial security, ?re, and life-safety operations throughout the greater Detroit metropolitan area. All inventory ?ows in and out of this location, which also consolidates key functions including sales, engineering, HR, and executive operations under one roof. The property is located in an affluent community approximately 30 miles northwest of Detroit, surrounded by established industrial and ?ex users including Bureau Veritas, Thielenhaus Technologies, Ash Gear & Supply, Lathrup Industries, Orotex Corporation, and Harada. It is situated just minutes from Interstate 96, a major regional corridor carrying more than 170,000 vehicles per day. The surrounding area supports a strong demographic pro?le, with approximately 169,000 residents within a ?ve-mile radius and average household incomes of $167,000 within the immediate three-mile trade area.
Everon is a leading national provider of integrated commercial security, video surveillance, ?re protection, sprinkler, and life safety solutions, headquartered in Irving, Texas. Formed following the 2023 acquisition of ADT Commercial by GTCR, the company operates as an indepen-dent entity focused exclusively on enterprise-scale commercial clients across industries including corporate, retail, healthcare, banking, energy, education, and government. With over 5,000 employees across approximately 100 offices and two dedicated 24/7 monitoring and operations centers, Everon supports more than 300,000 customer locations nationwide, delivering advanced, code-compliant systems such as access control, intrusion alarms, video analytics, ?re alarm monitoring, and system integration backed by decades of industry expertise and a commitment to customer service excellence.