116,250 Square Foot Industrial Space For Sale @ 42555 Merrill Rd

100% fee interest for 42555 Merrill Rd (the “Property”), an 116,250 SF (15,000 SF office and +/- 101,250 SF industrial) building located in the highly sought after Sterling Heights industrial market. This asset offers potential investors an opportunity to acquire a high end, recently leased building in one of the strongest industrial submarkets in the Midwest. Built in 1978, the property underwent a 48,250 SF expansion in 2006. The original 68,000 SF portion of the building has 18-foot clearance while the expanded portion offers 26-foot clearance. The tenant, SAS Automotive, is a joint venture between Faurecia and Continental. The company is focused on developing and manufacturing first class auto cockpits. SAS Automotive recently commenced a new 7-year triple net lease. This optimal location of the Property ensures industrial demand should ownership need to re-tenant the space anytime in the future. The Property is situated in the West of Van Dyke/Macomb submarket. Widely considered one of the healthiest industrial submarkets in the Detroit metro area, West Van Dyke/Macomb boasts impressive metrics in an already robust industrial region. The submarket is home 1,277 industrial buildings, making it the most heavily concentrated industrial area in Metro-Detroit. Simultaneously, the submarket is currently experiencing the lowest vacancy rate in the region’s history at less than 1%. Rental rates hover $0.06 over the regional industrial average at $5.35/SF. This represents a 10% rental rate increase since the end of 2014. As vacancies have continued to contract, the submarket’s rental rates have trended upward year-over-year since 2013. The Property is located on Merrill Rd between 19 Mile Rd and 18 1/2 Mile Rd. Access to the Property is via two curb cuts along Merrill Rd. Situated a short distance from the intersection of M-59 (Hall Rd) and M-53 (Van Dyke Rd), the Property is ideally positioned at the heart of Automation Alley and at the epicenter of two major Metro-Detroit thoroughfares. Downtown Detroit is located 30 minutes to the south while Auburn Hills is a 20-minute drive to the northwest. Detroit Metro Airport is also accessible via a 45-minute drive to the southwest.