Complete Packaging Group | 601 & 633 Detroit Ave, Monroe, MI
Single Tenant Absolute NNN Industrial w/ IOS | 12.33 WALT | Strong Tenant | Submarket of Detroit, MI
Marketing description
47 + YEARS HISTORICAL OCCUPANCY | MISSION CRITICAL SITE
In Q4 2023, Complete Packaging was acquired by Specialized Packaging Group. The acquisition was a strategic initiative by Specialized Packaging Group to gain access to a well-established operator with a substantial Midwest customer base / footprint. The acquisition added approximately 90 employees to SPG’s 1,600-person workforce. Complete Packaging’s leadership and full workforce was retained.
In tandem with the business sale, a fifteen (15) year sale leaseback was executed at the subject Monroe, MI location which Complete Packaging had already owned / occupied for 47 + years prior. The subject site is a “mission critical” manufacturing, distribution, and storage facility for the company’s OEM and Custom Wood Corrugated Packaging business which services a multitude of Midwest focused industries including the vast automotive industry in the greater region.
HIGHLY SECURED LONG TERM ABSOLUTE NNN LEASE | STRONG TENANT FINANCIALS
—Complete Packaging is a leading provider of custom, value-added multi-substrate packaging solutions and boasts unit level revenues of over $28M.
—In addition to the solid tenant financials of the Lessee signature, as an additional layer of security, the Lease includes a strong corporate guarantee from two (2) additional parent entities (“joint guarantor”) which produce over $141M in annual revenue.
SOLID UNDERLYING INDUSTRIAL REAL ESTATE FUNDAMENTALS
—The subject property is centrally located in immediate proximity to I-75, a major north-south transportation artery highway often called “Michigan’s Main Street” due to its connection to major cities like Detroit, Flint, and Bay City. It is a key route for freight, connecting industrial centers in the region. The site’s location provides convenient access to the Greater Midwest Region that it serves.
LOCATION WITHIN THRIVING MONROE SUBMARKET | LOW VACANCY / SCARCE SUPPLY
—The property is located within the Monroe Industrial Submarket of Detroit, MI. The Monroe industrial market contains approximately 18 million SF of total industrial inventory.
—As of Q2 2026, Monroe’s vacancy rate was a mere 1.6% with ZERO (0) SF available for Sublet and ZERO (0) SF currently Under Construction and strong 2.4% YOY rent
growth.
Investment highlights
- Single-tenant absolute NNN industrial investment offering a passive ownership structure with zero landlord responsibilities
- Long-term income security with ±12.33 years remaining, 2.0% annual rent increases, and extension options providing embedded NOI growth
- Strong tenant credit supported by a leading packaging manufacturer with ~$28M unit-level revenue and a joint corporate guarantee totaling ~$141M+
- Mission-critical manufacturing and distribution facility with 47+ years of operating history at the site
- ±59,018 SF industrial asset on 4.62 acres with functional design including dock/grade loading, heavy power, and two (2) secured / paved industrial outdoor storage (IOS) yards
- Strategic logistics location with immediate access to I-75, serving key Midwest industrial and automotive corridors. Located in a supply-constrained submarket featuring ~1.1% vacancy, no new construction, and strong rent growth fundamentals
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