RECENT SIGNIFICANT BUILDING UPGRADES
Improvements include new HVAC units, upgrades to the parking lot, fencing, warehouse upgrades, and LED lighting throughout. The expected completion for the improvements is late December 2019.
STRONG TENANT FINANCIALS
This investment features a corporately guaranteed lease from the nation's largest lawn care provider. The tenant saw revenues in excess of $1B in 2018. Continued success has allowed the company to expand its footprint across the U.S. to over 300 branches.
NEW 10-YEAR LEASE
The tenant just recently signed a new 10-year lease, extending a 34 year history at this location.
INTERNET PROOF BUSINESS
The tenant is a service oriented business which insulates the investment from the rapidly growing e-commerce industry, sheltering it from web based competitors such as Amazon.
LOCATED IN DESIRABLE INDUSTRIAL PARK
The property is located in a dense industrial park surrounded by a variety of quality tenants. Notable surrounding tenants include: Nabisco, Harbor Foam, PODS, Airgas, Viking Spas, Hadley, and K&M Tire.
INDUSTRIAL ASSET CLASS
Industrial properties are strong long-term performing assets with minimal turn-over costs compared to other property types. Additionally, the expansion of e-commerce is a strong tail wind that will continue to drive occupancies in this sector for years to come.
HEALTH OF GRAND RAPIDS INDUSTRIAL MARKET
Grand Rapids has an industrial vacancy rate of 2.7% exemplifying the health of the industrial sector in the region. As well as a diverse pool of sectors such as medical device manufacturing, food processing, and aerospace. This diversity is an indicator of health and stability in this market.
