Capri EGM Buys Global Headquarters in MI

The four office buildings and one data center are located along the riverfront of Traverse City, MI.

CHICAGO—Capri EGM recently acquired through a sale leaseback deal the four-building headquarters of Hagerty, an insurance provider for classic vehicles and vintage boats, in Traverse City, MI. Hagerty also signed a long term absolute net lease with the Chicago-based investor. The purchase price for the properties was not disclosed, but the deal does include annual rent increases.

The property consists of four class A buildings and one data center along the Boardman River and less than one-half mile from Lake Michigan. Hagerty was founded in Traverse City, the largest city in northern MI, more than 30 years ago and about 600 employees conduct global operations from this facility.