chi-traverse city (3) 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.  

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Brian J. Rogal

Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.

More from this author

 

GlobeSt Net Lease Fall 2022Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information
 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2022 ALM Global, LLC. All Rights Reserved.