1600-1634 E. Grand Boulevard

Overview

The subject property is currently 74.65% occupied with rents in the $6.00 modified gross range. Prospective investors can expect to achieve immediate cash flow, with near-term upside in rental income as leases are converted to a triple-net structure. The Packard Plant has become a big-ticket item on the city of Detroit’s agenda to revive what once was one of America’s top industrial submarkets. The city is currently in the midst of the demolition process for the 3.5 million square foot Packard Plant, marking a necessary step toward attracting developers to revive the corridor. Uniquely situated one block away from the I-94 on/off ramps, the site’s logistical capabilities are bolstered with immediate access to one of the Midwest’s preeminent east-west thoroughfares. The current owner has been diligent in making necessary capital improvements to the site including new roofs, replacing several sections of parking lot, and installing modernized HVAC systems. The property is located directly across I-94 from an essential 3 million square foot GM Assembly Plant.