3378 3 Mile Rd NW

Industrial for Lease
Catylist Listing ID: 29978020
Property Subtypes: Manufacturing, Light Industrial, Warehouse/Distribution
Contiguous Space: 104,864 SF
Building Size (RSF): 104,864 SF
Gross Building Area: See Agent
Gross Land Area: 16.83 Acres
Lease Rate: $4 PSF (Annual)
Base Monthly Rent: $34,954
Lease Types: NNN
Ceiling: 28 ft.
Docks/Doors: 37 Docks, 5 Doors
Office SF: 4,791 SF
Last Updated: 11/19/2017

Overview / Comments

The subject property is located in the city of Walker which is located directly NW of downtown Grand Rapids. Walker is viewed as a business friendly community and has an extensive industrial infrastructure located within its city boundaries. The facility that is currently occupied by Federal Express is located just off Three Mile Rd NW which parallels the main highway between Grand Rapids, Muskegon and other lakeshore communities. Access to I-96 is provided both east and west of the facility at the Fruit Ridge and Walker interchanges. Both of these are well designed and set up for significant truck traffic.
The facility itself is of extremely high quality and has been very well maintained. The facility was constructed between 2001 and 2012 with the most recent addition including both office and warehouse space. The facility is constructed specific for a Federal Express trucking and distribution operation and as a consequence of that has 37 loading docks and five overhead drive in doors. The facility also features an extensive yard area for trailer and tractor parking all of which is in exceptionally good condition. The offices are nicely appointed and consist of both private offices and open areas as well as break and meeting areas. The offices would likely be very adaptable to a wide variety of users.
The warehouse is a bit unusual for the greater Grand Rapids market in that it has a 28’ eve height. Most buildings of this type are constructed with a 24’ eve height. This facility also has a much higher dock to square footage ratio than most buildings of this type. This building has one dock for every 3,000 SF of warehouse area where most other buildings in the area are serviced by one dock per 10,000 SF or more. The facility has a significant amount of 480 volt / 3 Phase electrical capacity which is used to run the conveying systems in the building. This could be adapted for other distribution and/or manufacturing uses. The facility also features a carbon dioxide detection system which activates upon the CO2 levels getting above a prescribed level due to vehicular traffic within the building.
The facility is very well lit and is very clean given the fact that there is significant traffic within the building. The column spacing is also a bit wider than in most other Grand Rapids buildings due to the facility needing to accommodate interior truck maneuvering.
The exterior, as previously indicated, is significant in terms of its asphalt parking areas and trailer storage areas. All of these areas are in excellent condition. The loading docks feature a 50’ long concrete pad to support truck dollies which for Federal Expresses use was a necessity. There are also two oil water separators that service the facility which are cleaned regularly. The facility itself is fully fenced with the employee parking on the outside of the fence and is gated and electronically and video controlled for pedestrian access.
The facility was set up for back-up electrical generator power and from a maintenance perspective the facility has been well maintained and very little deferred maintenance is evident.

Subject to approval of Tenant and Tenant's credit and use by the Landlord. Such approval shall be at Landlord's sole discretion

Expand All Available Space

Suite: Entire Building 104,864 SF $4 PSF (Annual) NNN
Space Available: 104,864 SF
Lease Rate: $4 PSF (Annual)
$34,954 (Monthly)
Lease Type: NNN
Date Available: 9/1/2017
Lease Term: 120 Months
Space Type: Relet
Kitchen Yes
Tax Expenses $81,932 PSF (Annual)
Ceiling 28 ft. Clear
Loading Docks 37
Loading Doors 5
Office Space 4,791 SF

Additional Details

Nearest MSA: Grand Rapids-Wyoming
County: Kent
Taxing Authority: City of Walker
Tax ID/APN: 41-13-08-226-004
Property Located Between: Peach Ridge and Fruit Ridge and Richmond and I-96
Highway Access: 0.84 Miles to I-96
Airports: Gerald R Ford International Airport
Tenancy: Single Tenant
Total Number of Buildings: 1
Number of Stories: 1
Property Condition: Excellent
Year Built: 2001
Year Renovated: 2012
Construction/Siding: Steel Frame
Parking Type: Surface
Parking Description: Extensive on-site parking
Column Spacing: 48' x 42'
Overhead Cranes: Undisclosed
Amps: 1,200
Volts: 480
Heat Type: Natural Gas
Heat Source: Central
Air Conditioning: Engineered System
Lighting: Fluorescent
Water Service: Municipal
Sewer Type: Municipal

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 3,050 41,791 118,506
Median Age: 36.78 37.99 33.95
Households: 1,109 17,049 47,598
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