18800 MEGINNITY ST Melvindale MI 48122-1931

Passov Investment Group is pleased to offer the Integrated Power Service Systems property located at 18800 Meginnity Street, Melvindale, MI 48122. Integrated Power Services (IPS) has been at this location since 2008 and has just signed a new ten (10) year lease extension that will commence September 12, 2023 that will keep IPS at the property at least through September 11, 2033.

IPS was acquired in December of 2021 by private equity group Searchlight Capital Partners. Searchlight is a global private investment firm with over $9 billion in assets under management and offices in New York, London and Toronto. Searchlight seeks to invest in businesses where its long-term capital and strategic support accelerate value creation for all stakeholders.

• Single Tenant NNN Lease with Integrated Power Services (at location since 2008)

• Excellent Credit Tenant owned by Private Equity Group with $9B in assets

• New 10 Yr Extension Commencing September 12, 2023

• Eight Percent (8%) Rent Increase after Year 5

• Roof Completely Replaced in 2021

• No Landlord obligations - Capital improvements are reimbursed by Tenant over useful life at 10% Interest rate