1961 Base Ave Springfield, MI 49037
Five-year net lease industrial warehouse investment opportunity.
Type:Industrial
Property size:
112,500 SF- Added:
- Nov 1, 2023
- Days on Market:
- 901
- Last Refresh:
- Mar 17 at 1:24 pm
Property Features for 1961 Base Ave
General Information
- Standard status
- Active
- Size
- 112,500 SF
- Property subtype
- Industrial
Listing agent Charles Howard License #MI 6506044836
Listing office Transwestern Detroit
Listing date Nov 1, 2023
Source Crexi
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All listing content including descriptions, pricing, images are the copyrighted material of Transwestern Detroit
Overview
Net Leased Industrial Warehouse
This industrial warehouse investment opportunity features a five-year net lease. The property is occupied by Iron Mountain Incorporated (NYSE: IRM), a global leader in storage and information management services. Iron Mountain has been a strategic partner for over 70 years, caring for information and assets and is trusted by more than 225,000 organizations around the world, including 95% of the Fortune 1000. The facility is located in Springfield Twp., (Battle Creek), MI in Calhoun Counter of Southwest Lower Michigan. Situated off of I-94 and near I-69, the site is positioned to receive client storage from Detroit, Lansing, Grand Rapids, Kalamazoo, and Battle Creek. Iron Mountain has occupied the premises for 20 years and recently signed its fifth, five-year lease extension. Iron Mountain purchased another document storage company who occupied the building since 1989. The property features a five-year net lease with three percent annual rent increases and six, 5-year options at market rates. Occupancy is estimated at 90%. The building, dating back to the Cold War era, provides a secure storage space. The functional building includes ceiling heights of 13’-20’ and four massive 1600-amp 600-volt circuit breakers. The property size is 112500 square feet.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Warehouses
Similar Places Nearby
- West Dickman Road Self Storage — 3950 W Dickman Rd, Springfield, MI 49037
- Iron Mountain — 1961 Base Ave, Springfield, MI 49037
Location Insight
- Map
- Local Demand
- City
- Springfield
- County
- Calhoun
- State
- Michigan
- Longitude
- -85.266906
- Latitude
- 42.32149
Nearby Similar for Sale
FAQs
What type of property is this?
Warehouse - Five-year net lease industrial warehouse investment opportunity.
Where is this warehouse located?
The property is located at 1961 Base Ave Springfield, MI.
What is the asking price?
The asking price for this property is $5,750,000.
What are key features of this property?
This property features: Five (5) year net lease with Iron Mountain Incorporated (NYSE: IRM).; Tenant is a global leader in storage and information management services, trusted by 95% of the Fortune 1000.; Perfectly situated off of I‑94 and near I‑69 to receive client storage from multiple major cities.
