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| A 186,443-square-foot industrial building located at 18450 15 Mile Road in Fraser, MI |
FRASER, MI -- Stan Johnson Company, one of commercial
real estate’s leading investment sales brokerage firms, has announced the sale
of a 186,443-square-foot industrial building located at 18450 15 Mile Road in
Fraser, Michigan.
The manufacturing facility is leased to AAM Metal
Forming (NYSE: AXL), a leading global tier 1 automotive supplier that designs
and produces driveline and drivetrain components and modules, chassis systems
and other formed products for the automotive industry.
ACW Fraser
American LLC, a Tucson, Arizona-based institutional investor, was exclusively
represented by Asher Wenig of Stan Johnson Company.
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| Asher Wenig |
“I was proud to represent my client in the sale of
this attractive asset,” said Wenig, Senior
Director and Partner in Stan Johnson Company’s New York office. “They were able to take advantage of a
hot industrial net lease market.”
Located in a northern suburb of Detroit, Michigan, the mission-critical facility is situated on 14.35 acres and was recently renovated in 2020.
At the time of sale, there were approximately 15
years remaining on the primary lease term. The lease features an absolute
triple net expense structure and provides 2.0 percent annual rent increases
during the primary and option terms.
“The offering was well-received by the market,
allowing us to generate several offers by many qualified buyers,” Wenig added.
“Combined with this being a mission-critical
facility, well below market rents and there being available buildable FAR, this
will be an outstanding investment for the buyer for many years to come.”
CONTACT:
David Ebeling
Ebeling Communications
949.861.8351
949.278.7851 (Cell)
Member of the National Association of Real
Estate Editors (NAREE)
“PR Strategist for the Commercial
Real Estate Industry: I do what I love and love what I do.”
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