TRANE Commercial Systems Listing Details & Market Data

fillLegacy Commercial Group is pleased to present the opportunity to acquire a Class (A) 82,700 SF single tenant facility located in Grand Rapids, MI. The facility is home to TRANE, a subsidiary of Ingersoll Rand (NYSE: IR). TRANE is a leading global provider of indoor comfort systems and comprehensive facility solutions. This building was originally a build to suit for TRANE, in a consolidation effort from 3 other Western Michigan locations. This versatile property features a mixture of office and manufacturing/distribution space and includes 24' ceilings, 4 OH doors, and 4 loading docks. The Tenant originally executed a 10 year lease, commencing January 1st, 2006 and has executed systematic renewals since the expiration of the original term. The lease is absolute net in nature, with all expenses being paid directly by the tenant. The current lease structure provides significant upside rent potential with market rents in the immediate area ranging from $6.50 NNN - $7.50 NNN. The subject asset sits in the premier industrial park of Western Michigan, Meadowbrooke Business Park, and is surrounded by Class (A) office and industrial space. Additionally, the subject sits less than 2 miles from the Gerald R. Ford International Airport.