2858 Enterprise Ct

CBRE, Inc. has been retained by the owner (“Owner”) as its exclusive advisor and agent and is pleased to present the opportunity to acquire the 100% fee-simple interest in 12740, 12770, 12800 and 12850 Lyndon Street, Detroit, 2858 Enterprise Court, Saginaw, 1900 North Saginaw Street, Flint, Michigan and 138 West Sylvania Avenue, Toledo, Ohio (“Portfolio”). The Detroit, Flint and Saginaw properties contained within the Portfolio are leased to Johnstone Supply through June 30, 2037. These in-place triple net leases contain annual rental escalations within the existing term. Additionally, the annual rental amount adjusts every five years to the greater of the fair market rental value or a stated amount that is three percent higher than the last stated rental rate. Johnstone Supply has been located at the Toledo property since 2016 and its existing lease extends through June 2027 with two (2) remaining five (5)-year renewal options. The landlord favorable leases are structured on a triple net basis whereby the tenant is responsible for all repairs and maintenance of the Properties, except structural elements of the foundation, exterior walls, and roof replacement. The properties within the Portfolio are being offered individually or as a portfolio.