4970-5030 Northwind Drive, East Lansing, MI 48823

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Building Details:

• Year Built: 1973

4970-5030 Northwind Drive is located in East Lansing, MI.

*OFFERS DUE BY 5:00 PM EST on Thursday, November 20th

Value-Add Investment: The Executive Office Park consists of five separate office buildings totaling 80,873 square feet of rentable space (90,000 square feet of gross building area). The buildings sit on three individual parcels totaling 6.33 acres of commercially zoned land (C-2, Community Service). The office buildings are currently operating at a combined occupancy of 46%. The majority of the tenants are local and on shorter term leases with varying lease expirations, making this an excellent value-add opportunity. All of the tenants are on gross leases in which the landlord is responsible for all operating expenses.

Conversion/Redevelopment Opportunity: The Property is strategically located near Michigan State University' s campus, and makes for an excellent redevelopment opportunity. In an area with virtually zero vacant land, the subject Property offers an investor the opportunity to convert or develop the asset with commercial and student housing uses. Based on a recent feasibility study of the Property, the asset also presents the possibility to be converted from five separate multi-tenant office buildings into five individual student housing structures (about 74 units).

Area Overview: The Greater Lansing Area is comprised of Clinton, Eaton and Ingham Counties, with the City of Lansing, Michigan' s capital city, at the center. The regional population is approximately 450,000, and is spread across a multitude of smaller towns, each with their own distinctive identity.
Greater Lansing was recently awarded the Five Star Quality of Life Quotient rating by Expansion Magazine, for its economic stability, housing affordability, qualified workforce, advanced education systems and low cost of living. Lansing was the only area in Michigan to receive such a distinction.

Meridian Township: The community of Meridian Township lies along the eastern border of East Lansing and the campus of Michigan State University and is in close proximity to the Michigan State Capitol. With a population of approximately 49,300 students, Michigan State University dominates the small town of East Lansing. Please see full Offering Memorandum to read more about this opportunity.