Jim Kemmerer - Commercial Real Estate Showcase

Jim Kemmerer Property Listings
President, Broker
Burr & Temkin South, Inc.
380 Front St
Issaquah, WA 98027
(425) 837-1500
(425) 837-1590

2612 Kersten Court - Fed Ex

Kalamazoo, MI 49048 - Southern Kalamazoo County Submarket

Property Type:Industrial Sub Type:Warehouse Status:Existing Year Built:2001
Building Size:101,068 SF Land Area:16.34 AC (711,770 SF)
Ceiling Height:- Loading Docks:No Rail:- Power:-
For Sale Price:$8,950,000 Price/SF:$88.55
Cap Rate:7.75 %
Zoning:- Sprinklers:- Drive Ins:27 tot./10'0''w x 14'0''h Cranes:-
Parking:Free Surface spaces are available

Sale Notes:
Sale Price: $8,950,000

Burr & Temkin is pleased to offer for sale the FedEx Ground distribution center in Kalamazoo Michigan. The property is fully leased to FedEx Ground Package System, Inc., a wholly owned operating subsidiary of FedEx Corporation (Fortune 100 company posting over $50 billion in revenue in 2016). FedEx has demonstrated a strong commitment to this facility which has been in operation since 2001. In 2015, FedEx constructed a 20,353 square-foot expansion at its expense. This is the only FedEx Ground facility located in Southwest Michigan, with the three closest distribution centers being in Lansing (65 miles northeast), Grand Rapids (66 miles north), and Anarbor (100 miles east).

Originally constructed as a build-to-suit for FedEx in 2001, the building totals 120,828 square feet (included the expansion) and sits on 16.46 acres. The pre-engineered steel building also features 5,858 square feet of improved office space. The improvements are all in above average condition. The property’s strategic location offers excellent access to I-94 and SR-131.

FedEx extended their lease in 2015, after the completion of the tenant funded expansion. The current lease expires August 31, 2020 however FedEx possesses two 3-year renewal options. The NN lease structure requires minimal landlord maintenance responsibilities (roof and structure only).

This property is being offered for sale at $8,950,000. Offers will be reviewed and responded to as they are received.

Burr & Temkin South, Inc.
Jim Kemmerer
(425) 837-1500

Gabe Temkin
(425) 837-1500

Burr & Temkin South, Inc
David Lane
(312) 263-2722

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