Listed by Signature Associates Southfield, Signature Associates
Unpriced
Grand River Annex Plaza
Details
APN 11-14-200-001
Property Type Retail
Sub Type Commercial
Square Footage 53,275
Net Rentable (SqFt) 15,932
Occupancy 70.09%
Class A
Year Built 2003-2004
Stories 2
Acreage 10.000
Parking Spaces 243 spaces
Parking Per SqFt 4.56
Retail | 53,275 SqFt
Marketing description
Signature Associates is pleased to present the opportunity to acquire
Grand River Annex, a Class A multi tenant office asset located in Brighton,
Michigan, one of the state’s fastest-growing cities. The 10.00-acre property totals
53,275 square feet of premier office space across eight (8) buildings constructed
between 2003 and 2004. Additionally, the asset includes 243 surface parking
spaces and is easily accessible from Grand River Avenue, Brighton’s most coveted
commercial corridor. The asset is leased to a diverse mix of 17 tenants, with shortterm leases and below-market lease rates that provide an immediate value-add
opportunity. The property is currently 70.09% occupied with a weighted average
lease term (WALT) of 2.57 years.
Investment highlights
- Class A Office Asset Located in Michigan's Most Affluent County Grand River Annex is a 53,275 square foot Class A office property located in Brighton, Michigan. Brighton is a key component of Livingston County, one of the most affluent counties in the state, with a median annual household income of $103,039.
- Compelling Value-Add Opportunity Through Lease-Up and Mark-to-Market Potential Brighton is one of a few outlier office markets with occupancy levels consistently in the 90%+ range over the past decade, including during the COVID era. The combination of available vacancy, near-term lease expirations, and below-market in-place rental rates provides a clear value-add path.
- Covered-Land Play with Strong Residual Value Along Brighton's Most Heavily Trafficked Thoroughfare The subject site presents an attractive covered-land opportunity, allowing the prospective purchaser to recapture basis while preserving long-term redevelopment optionality upon expiration of the leases. Favorable demographic trends have positioned Brighton as a recipient of numerous residential developments in recent years.
- Exceptionally Maintained Buildings With Pristine Brick-And-Mortar Quality - Grand River Annex has been meticulously maintained by current ownership and features prominent brick façades, professional landscaping, and strong curb appeal across an expansive 10.00-acre lot. The property consists of eight (8) buildings supported by a total of 243 surface parking spaces.
- Strategic Location with Outstanding Regional Connectivity to Major Population Centers - Brighton is centrally positioned between Ann Arbor, Lansing, and Detroit, providing tenants with convenient access to three major population hubs with deep and highly educated labor pools.
Listing Contacts
Listed by Signature Associates Southfield, Signature Associates
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