Investment Overview

Marcus & Millichap is pleased to exclusively represent the ABC Supply Company, Inc. location at 1515 N Grand River Ave., Lansing, Michigan, (Lansing–East Lansing MSA; Population: 541,297, Ranked #106) an opportunity to acquire a credit rated tenant (S&P: BB) with a proven operating history in this location since 2007. ABC Supply Company, Inc. just executed a 5-year NNN lease term renewal which commenced January 1, 2023 with 2.5% annual increases throughout the term. ABC Supply Company, Inc. is the largest wholesale distributor of roofing supplies and one of the largest suppliers of siding, windows and other select exterior and interior building products, tools and related supplies in the US with over 800 locations in 49 states. 2021 reported revenue was $14.7B. Minimal landlord responsibilities, tenant pays for all maintenance, repairs and replacement of roof, structure, and parking lot. Features: The subject property, built in 1967 with steel and brick construction, has a GLA of 24,000 SF with 9,600 SF of office buildout, and is located on 4.5 acres to be used for warehouse, distribution, office space and outdoor storage. It maintains four docks, two drive-in doors, as well as 18’ ceiling clear heights. All of the property is located in the Region 7 Opportunity Zone, home to 383 businesses and 4,227 jobs. The average vacancy rate for flex properties in the area currently stands at 4%, and this property’s rent ($7.06 SF) is well below the current market average of $10.38 SF (Flex Warehouse/CoStar). Average Household Income in the area is $76,907 within a 10-mile radius. Location: The property is situated just 4 minutes from the I-69 Business Loop (33,004 VPD), 7 Minutes from I-496 (69,661 VPD), and 8 minutes from Capital Region International Airport (with direct flights to Chicago, IL; Washington, DC; Orlando, FL; Detroit, MI). The property sits on the CATA bus route (14), allowing public transportation access to downtown Lansing and the airport.