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Net Lease

Ferguson Enterprises

2900 Millcork St, Kalamazoo, MI 49001

Listing Price: $1,114,285

Cap Rate
7.00%
Gross SF
20,000
Price/Gross SF
$55.71
Lot Size
2.81 acres
Year Built
1960
Rentable SF
20,000

Investment Overview

Marcus & Millichap is pleased to present this Ferguson Waterworks located on Millcork Street in Kalamazoo, Michigan. The subject property is a 20,000-square-foot facility sitting on 2.81 acres. Ferguson has occupied this space since 2016. There are over two years of lease term remaining, with one, three-year option to renew. The property is in an active industrial area surrounded by national tenants such as FedEx, Standard Electric, Gypsum Supply, Republic Services, and Goodyear. Ferguson is the largest U.S. distributor of plumbing supplies, PVF, waterworks and fire fabrication products. It is the third largest distributor of industrial and HVAC/R products. Ferguson is the nation’s largest distributor of residential and commercial plumbing supplies and pipe, valves and fittings (PVF). However, its expertise goes beyond plumbing. Ferguson is a diverse distributor that spans multiple businesses including HVAC/R, waterworks and industrial. The Kalamazoo metro is in southwestern Michigan, approximately 140 miles west of Detroit, and consists of Kalamazoo and Van Buren counties. The population of roughly 342,000 residents is expected to grow by 4,000 people by 2025. Nine universities and colleges, highlighted by Western Michigan University, provide a robust labor force and result in a median age that falls below the national median. The local economy spans agriculture, business services, healthcare and manufacturing.

Investment Highlights

  • Strong Investment Grade Tenant BBB+ with over $23 Billion in Annual Revenue
  • New HVAC System Installed in 2019
  • Active Industrial Area Surrounded by National Tenants such as Fed Ex, Standard Electric, Gypsum Supply, Republic Services, Goodyear, etc.

Exclusively Listed By

Broker of Record

  • Steven Chaben

    Senior Vice President / Regional Manager

    (248) 415-2600

    License(s) MI: 6502387903

    Michigan

Net Lease

Ferguson Enterprises

Listing Price: $1,114,285

Cap Rate
7.00%
Gross SF
20,000
Price/Gross SF
$55.71
Lot Size
2.81 acres
Year Built
1960
Rentable SF
20,000

Investment Highlights

  • Strong Investment Grade Tenant BBB+ with over $23 Billion in Annual Revenue
  • New HVAC System Installed in 2019
  • Active Industrial Area Surrounded by National Tenants such as Fed Ex, Standard Electric, Gypsum Supply, Republic Services, Goodyear, etc.

Investment Overview

Marcus & Millichap is pleased to present this Ferguson Waterworks located on Millcork Street in Kalamazoo, Michigan. The subject property is a 20,000-square-foot facility sitting on 2.81 acres. Ferguson has occupied this space since 2016. There are over two years of lease term remaining, with one, three-year option to renew. The property is in an active industrial area surrounded by national tenants such as FedEx, Standard Electric, Gypsum Supply, Republic Services, and Goodyear. Ferguson is the largest U.S. distributor of plumbing supplies, PVF, waterworks and fire fabrication products. It is the third largest distributor of industrial and HVAC/R products. Ferguson is the nation’s largest distributor of residential and commercial plumbing supplies and pipe, valves and fittings (PVF). However, its expertise goes beyond plumbing. Ferguson is a diverse distributor that spans multiple businesses including HVAC/R, waterworks and industrial. The Kalamazoo metro is in southwestern Michigan, approximately 140 miles west of Detroit, and consists of Kalamazoo and Van Buren counties. The population of roughly 342,000 residents is expected to grow by 4,000 people by 2025. Nine universities and colleges, highlighted by Western Michigan University, provide a robust labor force and result in a median age that falls below the national median. The local economy spans agriculture, business services, healthcare and manufacturing.

Exclusively Listed By

Broker of Record

  • Steven Chaben

    Senior Vice President / Regional Manager

    (248) 415-2600

    License(s): MI: 6502387903

    Michigan

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