Investment Overview

Marcus & Millichap is pleased to present the sale offering of 1872 Enterprise Drive, a single-tenant industrial investment opportunity in Rochester Hills, Michigan. The subject property sits directly off M-59, a prominent East-West thoroughfare, and is within ten minutes of I-75 access. In addition to major interstate access, the property resides in Detroit’s affluent northern suburbs, strategically located in close proximity to downtown Detroit and both Detroit Metropolitan Airport and Coleman A. Young International Airport. The subject property is 55,367 square feet, consisting of 36,701 square feet (66.3%) of warehouse space and 18,666 square feet (33.7%) of specialized tenant-specific build out, and is situated on 4.10 acres of land. The building contains one loading dock, three drive-in doors, and 24’ clear height. The property was constructed in 1998. The asset is fully occupied by Gainwell Technologies LLC, who recently extended their lease early in order to show commitment to the location, which would have begun in September 2023. The tenant also has two-5 year options to renew. In 2020, Gainwell Technologies acquired the previous tenant, DXC Technologies (NYSE: DXC), who had occupied the building since 2011. Gainwell Technologies is a leading provider of healthcare cloud technology solutions nationwide. They offer technology-enabled, mission-critical services for Medicad and public health, as well as human and technology services, allowing clients to deliver greater health and human services outcomes. The purchase of this offering presents an investor with the opportunity to acquire a single-tenant, net-leased industrial asset strategically located in the near-north suburbs of Detroit. At the current list price of $6,600,000, the investment offering will generate an in-place net operating income of $413,581 which equates to a capitalization rate of 6.27%.