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1501-1505 Bonner St
Ferndale, MI 48220
Garden Fresh (HQ) – Ferndale, MI · Industrial Property For Sale
·
102,312 SF Total
Investment Highlights
- Longtime Historical Occupancy: Garden Fresh Gourmet has been headquartered and operating out of this site for nearly three decades
- Below market rent of $5.52 PSF (Ferndale industrial market within 3-mile radius: $8.50 PSF)
- Six (6) drive-ins and ample parking (1.34/1,000 sq ft)
- Inflation Hedging & NOI Growth: FMV rent increase in the next option period
- Densely populated area with over 400,000 residents within a 5-mile radius of subject property
- Only 25-minute drive from Detroit Metro International Airport (DTW)
Executive Summary
Savills is pleased to offer for sale a 95,718 square-foot six (6) building headquarters campus located in Ferndale, MI. The subject property is 100%
occupied by Garden Fresh Gourmet.
The lease is on a NNN basis, whereby Landlord is only responsible for repair and replacement of roof & structure. Tenant recently exercised its first 5-year renewal option. The next option period contains a FMV rent adjustment. Founded in 1997, Garden Fresh Gourmet is the #1 branded refrigerated salsa in the United States, with a product line spanning hummus, dips, tortilla chips, and soup. Garden Fresh Gourmet has been headquartered at this location since inception. This site also serves as the main manufacturing plant for the company for its salsa, hummus, and dips, utilizing a cold/refrigerated production environment throughout most of the footprint
occupied by Garden Fresh Gourmet.
The lease is on a NNN basis, whereby Landlord is only responsible for repair and replacement of roof & structure. Tenant recently exercised its first 5-year renewal option. The next option period contains a FMV rent adjustment. Founded in 1997, Garden Fresh Gourmet is the #1 branded refrigerated salsa in the United States, with a product line spanning hummus, dips, tortilla chips, and soup. Garden Fresh Gourmet has been headquartered at this location since inception. This site also serves as the main manufacturing plant for the company for its salsa, hummus, and dips, utilizing a cold/refrigerated production environment throughout most of the footprint
Property Facts
| Price / SF | $68.42 / SF | Number of Properties | 4 |
| Cap Rate | 7.04% | Individually For Sale | 0 |
| Sale Type | Investment | Total Building Size | 102,312 SF |
| Status | Active | Total Land Area | 4.27 AC |
| Price / SF | $68.42 / SF |
| Cap Rate | 7.04% |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 4 |
| Individually For Sale | 0 |
| Total Building Size | 102,312 SF |
| Total Land Area | 4.27 AC |
Properties
| Property Name / Address | Property Type | Size | Year Built | Individual Price |
|---|---|---|---|---|
| 1501-1505 Bonner St, Ferndale, MI 48220 | Industrial | 66,793 SF | 1948 | - |
| 1220 E 9 Mile Rd, Ferndale, MI 48220 | Industrial | 19,780 SF | 1955 | - |
| 1515 Bonner St, Ferndale, MI 48220 | Industrial | 13,891 SF | 2016 | - |
| 1541 Bonner St, Ferndale, MI 48220 | Industrial | 1,848 SF | 1965 | - |
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