Laser Specialists, Inc.
Industrial | 7.00% CAP | 98,221 SqFt
Marketing description
Fortis Net Lease is pleased to present Laser Specialists, Inc., an industrial investment opportunity located at 61166 Van Dyke in Washington, Michigan. The property consists of a 98,221 square foot industrial facility situated within a well-established industrial corridor. Constructed in 1964, the building has been significantly improved through substantial capital investment by both ownership and tenant.
Laser Specialists is a family-owned company with over 30 years of operating history, specializing in laser cutting and fabrication services. The tenant serves a diversified client base across automotive, agriculture, aerospace, military, appliance, construction, energy, fitness equipment, and architectural industries.
With extensive recent improvements, expansion potential, and a strategic location within the Metro Detroit industrial market, this asset represents a compelling opportunity for investors seeking durable cash flow and long-term value.
Washington Township, located in Macomb County, Michigan, offers residents a blend of rural charm and suburban convenience. Situated amidst picturesque landscapes and rolling hills, the township provides a tranquil escape from the hustle and bustle of nearby urban centers while still offering easy access to amenities and attractions. Washington Township is characterized by its spacious residential areas, where single-family homes and estates are nestled among lush greenery, creating a serene and idyllic setting for families and individuals alike.
In addition to its natural beauty, Washington Township boasts a thriving community spirit and a range of recreational opportunities. The township is home to several parks and outdoor spaces, including Stony Creek Metropark, which offers miles of hiking and biking trails, picnic areas, and a scenic lake for boating and fishing. Residents can also enjoy local events and festivals throughout the year, as well as a variety of shopping and dining options in nearby commercial districts. With its blend of rural tranquility, suburban amenities, and community engagement, Washington Township provides a welcoming and desirable place to call home in the Metro Detroit area.
Investment highlights
- Over $400K Investment into brand new roofing systems
- Over $2.5M in capital invested into the building over the past 24 months, including a state of the art 10,000 SF office buildout, full building sprinkler system, sectional roof replacement, polished concrete floors, and exterior painting
- In place rent is over 50 percent below current market rates, providing significant mark to market upside upon renewal or re tenanting
- Functional, investor friendly industrial layout with dock high and overhead loading, supporting efficient manufacturing and distribution operations
- Four dock high doors and three overhead doors, with the ability to add two additional dock positions
- Tenant has installed millions of dollars of specialized, high tech equipment that is extremely costly and disruptive to relocate, creating a highly sticky tenancy and strong likelihood of exercising renewal options
- Located within a well established industrial corridor in Washington, Michigan, supporting long term industrial use and strong tenant demand
- 10 Year Absolute NNN Lease | Zero Landlord Responsibilities
- 98,221 SF industrial building
- Constructed in 1940
- Zoned for industrial use
- Prime Washington area location
- Fully occupied at 100% capacity
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