Battle Creek is known as Cereal City , and is home to the world headquarters of Kellogg Company, which was founded here in 1906. It is also the founding location of Post Cereals, which is now Post Food, and the Ralston Foods cereal factory owned by Ralcorp. Other major employers in the area include: Battle Creek Health System, Denso Manufacturing, Hart-Dole-Inouye Federal Center, Battle Creek Public Schools, Veterans Affairs Medical Center, Kraft Food, Inc., and Stanley. Aside from the significant presence of corporate food science industry giants such as Kellogg' s, the local economy has an aviation and aerospace component, with Kalamazoo/Battle Creek International Airport, Ft. Custer Army National Guard Base, and W.K. Kellogg Airport, servicing both civilian and military air travel/transport needs, with Duncan Aviation and Western Michigan University' s Aviation School located at the W.K. Kellogg facility. A massive Industrial Park was developed at the Ft. Custer base, the Ft. Custer Industrial Park, a 3,000-acre hub which is home to over 90 businesses, and is strategically located for logistics and distribution industries due to the abundance of transportation options in BC.
Village Inn is currently under-performing and could benefit from a new owner. The complex currently has one down unit that has been down since current ownership purchased it. If a new owner were to complete capital improvements and increase rents to market levels, at the asking price of $1,199,000, this offering represents an attractive 10.10% cap rate and potential 20.38% pre-tax ROI based upon current income trends. With multifamily investment being the preferred asset class in the current market place, Grande Pines presents an exciting opportunity to acquire a high quality asset with plenty of upside.
