Ford Motor Company
PRICE
CAP RATE
SQUARE FOOTAGE
LEASE TERM

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Michael Carter

Senior Director

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PROPERTY ADDRESS

15303 South Commerce Dr., Dearborn, MI 48120

PROPERTY INFORMATION

Price:
$4,937,914
Cap Rate:
7.0%
Term Remaining:
5 Years
Year Built:
1986
Status:
Available

INVESTMENT HIGHLIGHTS

  • Well Below Market Rents | Average Rents for Single Tenant Office Building in Area is More than Double at $15.00 Per Sq. Ft.
  • 100% Leased to Ford Motor Company | Corporately Guaranteed
  • Part of Fairlane Master Planned Development
  • Ford Motor Company Features S&P Credit Rating of “BBB”
  • Property Currently Houses Product Development Operations
  • Location was Previously Subleased to a Auto Supplier and Ford Recently Moved Back in w/ 100% Occupancy Displaying Their Long-term Commitment to the Site

INVESTMENT SUMMARY

Fortis Net Lease is proud to present this single tenant, investment property offering for an office property that is currently occupied by Ford Motor Company in Dearborn, Michigan, the city which serves as the home to the automotive giant. The subject property was originally constructed in 1986 as part of the Fairlane Master Planned Development with this location serving as the home to product development operations. Ford Motor Company is currently occupying the space under a recently executed six year lease extension which commenced on January 1, 20017 and will run through the end of the 2022 calendar year. This asset provides an investor with an easy to manage invest-ment as the Absolute Net lease structure requires zero management responsibilities with the tenant bearing the full costs of all capital and operating expenses. Ford temporarily vacated the property roughly 6 years ago and it was sublet to a Ford supplier and Ford recently took the space back and moved back, displaying their dedication to staying at the site. Additionally, the current lease rate of $6.00 per square foot, is well below the average single tenant office market rent of $15.00 per square foot.

The subject property was developed as part of the Fairlane Community, a development that was the brain child of Henry Ford II to provide a vibrant environment around the Ford World Headquarters. The subject property features an impressive mix of retail and office property as well as green space. Additionally, the area is extremely accessible via two major area roadways, I-94 and Southfield Road/MI 39. The close proximity to major transportation arteries as well as the role that this property plays in the community as a whole make this an irreplaceable part of the Ford Motor Company.