913 Holmes Rd Lansing Michigan
Investment Highlights:
- Multi-tenant office building within Kroger Plaza
- ±62% occupied with value-add through lease-up at market rates with longer term leases
- Central Lansing location conveniently located between I-96 and I-496
- Located ±3 miles from Downtown Lansing, ±5 miles from Michigan State University, and ±7 miles from Capital Region International AirportInvestment Overview:
Southwind Office Park a multi-tenant, Class B, office building located at 913 West Holmes Road in Lansing, Michigan.Built in 1980, Southwind Office Park consists of ±61,064 SF (±51,971 GLA) situated on ±3.77 acres within Kroger Plaza. Southwind Office Park offers 76 office units in various suite sizes/configurations and the current buildout is of smaller/individual offices with suites ranging in size from ±109 to 3,284 SF. The property is currently ±62% occupied by a variety of local tenants. Many of the tenants are currently MTM and/or roll in the near term giving the new owner the ability to increase rates overall to market rents and sign longer term leases. Additionally, this property presents huge value add through lease-up of the available ±19,659 SF (28 units) at market rates.
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Southwind Office Park sits in the Kroger Plaza and offers a convenient location within close proximity to various retail/restaurants locations including Walgreen’s, Wendy’s, Jersey Mike’s, Family Dollar, Kroger gas station. The Property has excellent access and is located ±3 miles north of Interstate 96 and ±3 miles south of Interstate 496. These main area arteries are east/west corridors that connect Lansing to Detroit and Grand Rapids. Southwind Office Park benefits from its central location only ±3 miles from Downtown Lansing, ±5 miles from Michigan State University, and ±7 miles from Capital Region International Airport off South Martin Luther King Jr. Boulevard. Located along the banks of the scenic Grand River in the heart of Michigan’s Lower Peninsula, Lansing is the ideal destination for travelers seeking small town comfort and big city convenience. Located in South Lansing, the Property is located just down the street to Ingham Regional Medical Center and a short drive to the Capitol, General Motors Grand River Assembly, Universities, Sparrow Hospital and many other points of interest.
This opportunity offers investors a well-situated asset with huge value-add potential through either lease-up of the available ±38% of GLA at longer term market rates or through future redevelopment.
Auction begins May 8th, 2017 Click HERE for auction website
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