NNN Investment Sale: Newly Renovated & 10 Years of Term

Dearborn, Michigan is the headquarters of Ford Motor Company. Accordingly, it comes to no surprise that approximately 10% of the office space in Dearborn is occupied by the automotive goliath and other associated automobile suppliers. Despite concerns surrounding the Covid-19 pandemic, there is good market optimism as Dearborn boasts daytime populations in excess of 150,000 residents, and remains a top tier sub-market that is valued at over $1 billion. The market takes advantage of the significant amount of white-collar jobs in the finance and professional business sectors that are in the outer suburbs of Detroit, as well as its proximal location between Detroit proper and Ann Arbor, Michigan, shadowed by the new Ford Motor Company redevelopment. Average vacancy rates of 8.5% are reported with 4-5 Star properties reporting higher rates while lower-ranked properties have been reporting below-average vacancy rates less than 7%. Market rents are sitting at just above $20/SF.