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Lear Corporation 1250 Commerce Dr 125,704 SF 100% Leased 4-Star Industrial Building Farwell, MI 48622 $10,824,082 CAD ($86.11 CAD/SF) 7.25% Cap Rate
Investment Highlights
- New 8-year lease with Lear Corporation (NYSE: LEA), an investment-grade (BBB - S&P) global automotive supplier, providing stable and reliable income
- Attractive 7.25% cap rate offering above-market yield for an investment-grade tenant, presenting a compelling risk-adjusted return
- Double net (NN) lease structure with tenant responsible for taxes, insurance, and CAM, minimizing landlord responsibilities
- Lear Corporation is a Fortune 500 company generating approximately $23.3 billion in annual revenue, with long-standing relationships with major OEMs
- Directly Supports Nearby Lear Manufacturing Facility - The property serves as a critical extension of Lear’s Farwell operations
- Built-in rent escalations with income growing from $569,424 to $628,520 in 2027 and $659,925 in 2030, providing steady NOI growth and inflation hedge
Executive Summary
New 8-year lease with Lear Corporation (NYSE: LEA), an investment-grade (BBB - S&P) global automotive supplier, providing stable and reliable income through February 2033.
Property Facts
| Price | $10,824,082 CAD | Rentable Building Area | 125,704 SF |
| Price Per SF | $86.11 CAD | No. Stories | 1 |
| Sale Type | Investment | Year Built | 2007 |
| Cap Rate | 7.25% | Parking Ratio | 0.64/1,000 SF |
| Property Type | Industrial | Clear Ceiling Height | 32’ |
| Property Subtype | Manufacturing | No. Dock-High Doors/Loading | 10 |
| Building Class | A | No. Drive In / Grade-Level Doors | 3 |
| Lot Size | 7.60 AC | ||
| Zoning | Industrial - Industrial Zoned District | ||
| Price | $10,824,082 CAD |
| Price Per SF | $86.11 CAD |
| Sale Type | Investment |
| Cap Rate | 7.25% |
| Property Type | Industrial |
| Property Subtype | Manufacturing |
| Building Class | A |
| Lot Size | 7.60 AC |
| Rentable Building Area | 125,704 SF |
| No. Stories | 1 |
| Year Built | 2007 |
| Parking Ratio | 0.64/1,000 SF |
| Clear Ceiling Height | 32’ |
| No. Dock-High Doors/Loading | 10 |
| No. Drive In / Grade-Level Doors | 3 |
| Zoning | Industrial - Industrial Zoned District |
Amenities
- Fenced Lot
- Security System
- Reception
- Storage Space
- Air Conditioning
Utilities
- Lighting
- Gas - Natural
- Water - City
- Sewer - City
- Heating - Gas
Somewhat walkable
20/100
Exceptionally drivable
100/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 041-023-400-16 | Improvements Assessment | $1,676,762 CAD |
| Land Assessment | $48,956 CAD | Total Assessment | $1,725,718 CAD |
Property Taxes
Parcel Number
041-023-400-16
Land Assessment
$48,956 CAD
Improvements Assessment
$1,676,762 CAD
Total Assessment
$1,725,718 CAD
Contacts
-
Deno Bistolarides -
Marcel Sarkisian -
Brandon Abdelnour -
Encore Real Estate Investment Services
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Lear Corporation | 1250 Commerce Dr
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