Stan Johnson Company Arranges $7.6 Million Sale of Industrial Manufacturing Facility Near Detroit, Michigan

Industrial Manufacturing Facility Near Detroit, Michigan

Stan Johnson Company, one of commercial real estate’s leading investment sales brokerage firms, has announced the sale of a 186,443-square-foot industrial building located at 18450 15 Mile Road in Fraser, Michigan. The manufacturing facility is leased to AAM Metal Forming (NYSE: AXL), a leading global tier 1 automotive supplier that designs and produces driveline and drivetrain components and modules, chassis systems and other formed products for the automotive industry. ACW Fraser American LLC, a Tucson, Arizona-based institutional investor, was exclusively represented by Asher Wenig of Stan Johnson Company. Fraser Fifteen LLC, an institutional investor based in Clifton, New Jersey, acquired the asset for $7.6 million. The cap rate was not disclosed.

“I was proud to represent my client in the sale of this attractive asset,” said Wenig, Senior Director and Partner in Stan Johnson Company’s New York office. “They were able to take advantage of a hot industrial net lease market.”

Located in a northern suburb of Detroit, Michigan, the mission-critical facility is situated on 14.35 acres and was recently renovated in 2020. At the time of sale, there were approximately 15 years remaining on the primary lease term. The lease features an absolute triple net expense structure and provides 2.0 percent annual rent increases during the primary and option terms.

“The offering was well-received by the market, allowing us to generate several offers by many qualified buyers,” Wenig added. “Combined with this being a mission-critical facility, well below market rents and there being available buildable FAR, this will be an outstanding investment for the buyer for many years to come.”

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About Stan Johnson Company:

Stan Johnson Company is one of the nation’s leading commercial real estate brokerage and advisory firms that focuses on investment sales transactions involving retail, office, industrial, healthcare, and specialty properties. The firm and its affiliates provide acquisition, disposition, sale leaseback, capital markets, and advisory services for institutions, developers, investment funds, corporate occupiers, and private investors across the United States. With a historic focus in the single-tenant net lease sector, Stan Johnson Company is now in its fourth decade of operation and has expanded its service platform in order to better serve its valued clients. The firm has completed more than $40 billion in transactions nationwide and continues to be regarded as the Net Lease Authority® as it focuses on continued growth and expansion into other industry sectors and services.