Listed by Sands Investment Group Austin
$1,736,296
TruGreen - Lansing, MI
Details
Property Type Industrial
Sub Type Distribution, Flex
Square Footage 11,720
Cap Rate 6.75%
NOI $117,200
Occupancy 100%
Tenancy Single
Lease Type NNN
Lease Term 41.3
Lease Expiration 12/31/2032
Remaining Term 6.5
Rent Bumps Yes
Lease Options 1 x 5 Year Option
Price per SqFt $148
Year Built 1991
Acreage 3.710
Investment Type Net Lease
Tenant Credit Corporate Guarantee
Lease Commencement 09/13/1991
Ground Lease No
TruGreen | Recent Lease Extension | 35+ Year Occupancy | Former Built-to-Suit | Lansing, MI
Marketing description
Sands Investment Group is pleased to exclusively offer for sale the 11,720 SF TruGreen facility in Lansing, MI. TruGreen, one of North America's largest providers of commercial and residential landscaping services, has occupied the property since 1991 and just recently executed a fresh lease extension. This is a rare opportunity to acquire a well-located and highly functional Industrial Service Facility leased to a national credit tenant.
Investment highlights
- National Credit Tenant: TruGreen is the nation's largest commercial and residential lawn care company, servicing over 2.3 million customers annually across its 350+ locations in North America.
- Commitment to Location: TruGreen has occupied the facility since 1991 and just recently extended its lease another 5 years, further proving its long-term commitment to this facility and market
- Former Build-to-Suit: This facility was a former build-to-suit (BTS) specifically designed for the tenant to support their business operations. Its tailored construction makes it difficult for the tenant to replace and unlikely for them to consider relocation.
- Strong Highway Access: Located near I-496 and I-96, which are major East/West and North/South arteries, this facility provides the tenant with the ability to effectively service the entire Lansing market.
- Strategically Located: The property is strategically located in one of Lansing's main industrial pockets. Notable nearby tenants with strong synergy include SRS Building Products, Foundation Building Materials, Grainger, FedEx, UPS, Lowe's, and Menards.
- Desirable IOS Asset Class: The excess yard space at this location allows for significant Industrial Outdoor Storage (IOS), which is one of the most sought-after asset classes in today's market.
Listing Contacts
Listed by Sands Investment Group Austin
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$117,200.00
$9,766.67/mo
Valuation Metrics
0
DSCR
6.75%
Cap Rate
6.75%
ROI
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