FOR SALE > 78,684 SF INDUSTRIAL BUILDING IN THE FLOURISHING SOUTHERN I-275 CORRIDOR SUBMARKET: 45755 Five Mile Rd, Plymouth, MI 48170
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This asset offers potential investors an opportunity to acquire a high end, long term leased building in a rapid growth industrial submarket. Built in 1981, the Property underwent significant renovations in 1991 and has undergone a multitude of recent capital improvements completed by current tenancy. Furthermore, the entire exterior and roof of the building is in process to be repainted by current ownership. The Tenant, RMT Woodworth Heat Treating, has offered a variety of heat treating services for over 40 years. With an operation comprised of three facilities, RMT has occupied the Property since 2007. The Property serves as a production line consisting of three massive furnaces used for the heat treatment of customer products. RMT has exercised a new 10 year triple net lease commencing March of 2018, providing the asset with a total remaining lease team of 11 years and seven months. RMT also has a one time 10 year option to extend the lease upon expiration.
The Property is three miles from the city’s downtown district, which offers numerous restaurants, shops, and entertainment options. The Property is also adjacent to Northville Hills Golf Club along with numerous high-end residential neighborhoods.
Significant Tenant Investment into the Building with Machinery and TIs
This asset offers potential investors an opportunity to acquire a high end, long term leased building in a rapid growth industrial submarket. Built in 1981, the Property underwent significant renovations in 1991 and has undergone a multitude of recent capital improvements completed by current tenancy. Furthermore, the entire exterior and roof of the building is in process to be repainted by current ownership. The Tenant, RMT Woodworth Heat Treating, has offered a variety of heat treating services for over 40 years. With an operation comprised of three facilities, RMT has occupied the Property since 2007. The Property serves as a production line consisting of three massive furnaces used for the heat treatment of customer products. RMT has exercised a new 10 year triple net lease commencing March of 2018, providing the asset with a total remaining lease team of 11 years and seven months. RMT also has a one time 10 year option to extend the lease upon expiration.
The Property is three miles from the city’s downtown district, which offers numerous restaurants, shops, and entertainment options. The Property is also adjacent to Northville Hills Golf Club along with numerous high-end residential neighborhoods.
Significant Tenant Investment into the Building with Machinery and TIs
