Contacts

Logan McAnallen, CCIM

Legacy Commercial Group

(810) 206-3504

Property Details

Property Type Industrial - Warehouse/Distribution
Property Size 82,700 SF
Lot Size 5.47 Acre
Year Built 2006
Date Updated Jan 26, 2024
HVAC None

fillLegacy Commercial Group is pleased to present the opportunity to acquire a Class (A) 82,700 SF single tenant facility located in Grand Rapids, MI. The facility is home to TRANE, a subsidiary of Ingersoll Rand (NYSE: IR). TRANE is a leading global provider of indoor comfort systems and comprehensive facility solutions. This building was originally a build to suit for TRANE, in a consolidation effort from 3 other Western Michigan locations. This versatile property features a mixture of office and manufacturing/distribution space and includes 24' ceilings, 4 OH doors, and 4 loading docks. The Tenant originally executed a 10 year lease, commencing January 1st, 2006 and has executed systematic renewals since the expiration of the original term. The lease is absolute net in nature, with all expenses being paid directly by the tenant. The current lease structure provides significant upside rent potential with market rents in the immediate area ranging from $6.50 NNN - $7.50 NNN. The subject asset sits in the premier industrial park of Western Michigan, Meadowbrooke Business Park, and is surrounded by Class (A) office and industrial space. Additionally, the subject sits less than 2 miles from the Gerald R. Ford International Airport.

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Highlights

Excellent Real Estate Fundamentals | Significant Upside Rent Potential with Market Rents Ranging from $6.50 NNN - $7.50 NNN
100% Leased to TRANE | Absolute Net Lease | Zero Landlord Responsibilities | All Expenses Paid Directly by Tenant
Long-Term Occupancy & Commitment | Original Built-to-Suit Location | Consolidation of 3 West Michigan Locations
Located in Premier Industrial Park of Western Michigan, Meadowbrooke Business Park, and Surrounded by Class (A) Office and Industrial Space | Less than 2 miles from the Gerald R. Ford International Airport

Attachments

OM TRANE - Grand Rapids MI.pdf (PDF) opens in new window

Getting around

16/100
Walk Score ®
30/100
Bike Score ®

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Location

City Grand Rapids, MI
Neighborhood Forest Hills
Zip Code 49512
Market Grand Rapids

Points of Interest

Grand Rapids

9.12 miles

Mobil

0.42 miles
Speedway

0.74 miles
Meijer Express Gas Station

1.65 miles
Marathon

1.72 miles
Circle K

1.81 miles
Marathon

2.45 miles
Pacific Pride

2.59 miles
Costco Gasoline

3.22 miles
Citgo

3.34 miles
Meijer Express Gas Station

3.41 miles

Enterprise

1.58 miles
Alamo

1.59 miles
National

1.59 miles
Tommy's Express

3.68 miles
Mister Car Wash

4.44 miles
Breton Auto Wash

5.51 miles
Quality Car Wash

6.26 miles
Trailer X Press Inc

8.32 miles
Tommy’s Express Car Wash

9.97 miles

Subway

0.42 miles
Burger King

0.78 miles
Panther Den

1.22 miles
Dining Hall

1.26 miles
Wendy's

1.39 miles
Jimmy John's

1.42 miles
PJ's Pizza

1.47 miles
Culver's

1.62 miles
Arby's

1.79 miles
Carmelo's Italian Pizza

2.40 miles

In-Depth Research Available for this Property

Access more in-depth information about this property — including ownership, tenant details, property characteristics and transaction history, along with local market insights and much more — on CommercialEdge.