Electronics

AT&T (Corp.)

2031 Dix Hwy, Lincoln Park, MI 48146

Listing Price: $1,750,000

Cap Rate
7.37%
Tenant Name
AT&T
Years Remaining On Lease
5.20
Gross SF
3,235
Guarantor
Corporate Guarantee
Rentable SF
3,235
Price/Gross SF
$540.96
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$39.88

Investment Overview

The subject investment is a free standing 3,235 square foot building occupied by a division of AT&T Wireless (corporate). AT&T opened in 2009 and recently exercised their first option. The lease is triple net. Landlord maintains CAM and is reimbursed for taxes, CAM and insurance expenses. The building is all brick and located in front of Dollar Tree at the signalized intersection of Hwy. 39 (Southfield Rd.- SB ADTC 46,800) and Dix Highway (ADTC 35,600), one half mile from the I-75 interchange in Lincoln Park, MI, a Detroit suburb. Directly across the street is a 63,000 square foot Kroger, including fuel station, which underwent a major renovation in 2018 totaling $3.4 million. Retailers and restaurants in the immediate area include: Dollar Tree, Starbucks, McDonalds, Wendys, Culvers and Ace Hardware.

Lincoln Park is part of the Downriver community, the unofficial name for a collection of 18 cities and townships in Wayne County, Michigan, south of Detroit, along the western shore of the Detroit River.

Tenant Profile: New Cingular Wireless PCS, LLC (Applicant or NCW) is a direct, wholly-owned subsidiary of AT&T Mobility II LLC (Mobility II) and an indirect, wholly-owned subsidiary of AT&T
Inc. (AT&T). AT&T Inc. is the worlds largest telecommunications company, the second largest provider of mobile telephone services, and the largest provider of fixed telephone services in the United
States through AT&T Communications. Since June 14, 2018, it is also the parent company of mass media conglomerate WarnerMedia, making it the worlds largest media and entertainment company in terms of revenue. As of 2018, AT&T is ranked #9 on the Fortune 500 rankings of the largest United States corporations by total revenue.

Investment Highlights

  • New 5 Year Lease Extension
  • NNN - Tenant Reimburses
  • Tenant is Subsidiary of AT&T Inc.
  • All Brick Construction in 2009
  • 46,800 Cars Per Day- Corner Lot
  • Sandwiched Between Two Interstate Interchanges

Exclusively Listed By

Listing Price: $1,750,000

Cap Rate
7.37%
Tenant Name
AT&T
Years Remaining On Lease
5.20
Gross SF
3,235
Guarantor
Corporate Guarantee
Rentable SF
3,235
Price/Gross SF
$540.96
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$39.88

Investment Highlights

  • New 5 Year Lease Extension
  • NNN - Tenant Reimburses
  • Tenant is Subsidiary of AT&T Inc.
  • All Brick Construction in 2009
  • 46,800 Cars Per Day- Corner Lot
  • Sandwiched Between Two Interstate Interchanges

Investment Overview

The subject investment is a free standing 3,235 square foot building occupied by a division of AT&T Wireless (corporate). AT&T opened in 2009 and recently exercised their first option. The lease is triple net. Landlord maintains CAM and is reimbursed for taxes, CAM and insurance expenses. The building is all brick and located in front of Dollar Tree at the signalized intersection of Hwy. 39 (Southfield Rd.- SB ADTC 46,800) and Dix Highway (ADTC 35,600), one half mile from the I-75 interchange in Lincoln Park, MI, a Detroit suburb. Directly across the street is a 63,000 square foot Kroger, including fuel station, which underwent a major renovation in 2018 totaling $3.4 million. Retailers and restaurants in the immediate area include: Dollar Tree, Starbucks, McDonalds, Wendys, Culvers and Ace Hardware.

Lincoln Park is part of the Downriver community, the unofficial name for a collection of 18 cities and townships in Wayne County, Michigan, south of Detroit, along the western shore of the Detroit River.

Tenant Profile: New Cingular Wireless PCS, LLC (Applicant or NCW) is a direct, wholly-owned subsidiary of AT&T Mobility II LLC (Mobility II) and an indirect, wholly-owned subsidiary of AT&T
Inc. (AT&T). AT&T Inc. is the worlds largest telecommunications company, the second largest provider of mobile telephone services, and the largest provider of fixed telephone services in the United
States through AT&T Communications. Since June 14, 2018, it is also the parent company of mass media conglomerate WarnerMedia, making it the worlds largest media and entertainment company in terms of revenue. As of 2018, AT&T is ranked #9 on the Fortune 500 rankings of the largest United States corporations by total revenue.

Exclusively Listed By

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