"The company's been there for decades, and plans on signinganother 20 year lease, triple-net, for the properties as part ofthe sale," Karson tells GlobeSt.com. "The sale would include aseries of five-year lease extension options. The new owner wouldhave a hand in crafting the lease."
He says the metal forming and welding equipment manufacturer wasrecently acquired by a New York City-based private equity fund."The fund made a determination that money they gain from the saleof real estate should be redeployed, that a sale would generate astrong return," Karson says.
The portfolio includes 191 Fir Road, 2950 Redfield Road and 1760Foundation Drive, consisting of one-story industrial buildings. Theproperties have been owner-occupied since their construction. Thearea served is the southwestern MIchigan/northeastern Indianamarket.
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