12 Locations For Sale

Friedman Real Estate is pleased to present a rare opportunity to acquire a 100% leased, 12-property single-tenant industrial portfolio totaling ±238,968 square feet across strategically diversified Michigan markets. The portfolio delivers immediate and stable cash flow, generating approximately ±$986,359 in current NOI. All assets are leased to Standard Electric/Madison Electric, a wholly owned subsidiary of Sonepar. Sonepar is a global leader in electrical distribution with over $37 billion in annual revenue, operations in 40 countries, and approximately 46,000 employees - providing strong credit-backed tenancy and long-term operational stability. The properties consist of mission-critical warehouse and distribution facilities essential to tenant operations.

The absolute NNN lease structure ensures passive, management-free ownership, with tenants responsible for all operating expenses. Existing lease terms extend through April of 2029, with two 5-year renewal options. The portfolio is leased at below-market rents and below replacement cost, offering strong upside and downside protection.

The Saginaw, MI property serves as Standard Electric’s corporate headquarters and a key distribution hub for its Michigan network, reinforcing the strength of the tenancy.