Garden Fresh (HQ) – Ferndale, MI Industrial FOR SALE


Ferndale, MI
$7,000,000 USD
248-227-3611
, Ferndale, MI for Sale
$7,000,000 USD
Industrial - FOR SALE
1/16
null | 7.04% Cap Rate

Garden Fresh (HQ) – Ferndale, MI
Ferndale, MI


HIGHLIGHTS

  • Longtime Historical Occupancy: Garden Fresh Gourmet has been headquartered and operating out of this site for nearly three decades
  • Inflation Hedging & NOI Growth: FMV rent increase in the next option period
  • Below market rent of $5.52 PSF (Ferndale industrial market within 3-mile radius: $8.50 PSF)
  • Densely populated area with over 400,000 residents within a 5-mile radius of subject property
  • Six (6) drive-ins and ample parking (1.34/1,000 sq ft)
  • Only 25-minute drive from Detroit Metro International Airport (DTW)

OVERVIEW

Savills is pleased to offer for sale a 95,718 square-foot six (6) building headquarters campus located in Ferndale, MI. The subject property is 100% occupied by Garden Fresh Gourmet. The lease is on a NNN basis, whereby Landlord is only responsible for repair and replacement of roof & structure. Tenant recently exercised its first 5-year renewal option. The next option period contains a FMV rent adjustment. Founded in 1997, Garden Fresh Gourmet is the #1 branded refrigerated salsa in the United States, with a product line spanning hummus, dips, tortilla chips, and soup. Garden Fresh Gourmet has been headquartered at this location since inception. This site also serves as the main manufacturing plant for the company for its salsa, hummus, and dips, utilizing a cold/refrigerated production environment throughout most of the footprint

ASK ABOUT THIS PROPERTY

Addison WilliamsSavillsMore Info
248-227-3611

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Addison WilliamsSavillsMore Info
248-227-3611

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.