DTE Energy Leases 528K SF Industrial Space In Redford, Michigan
24400 Glendale Redford Charter Twp, Mi 48239, Usa
$528,340
$528,340/SF
Building Size
528,340 SF
Asset Type
Industrial
Closing
Jul 28, 2023
AI
DTE Energy has signed a 528,340 square feet industrial lease at Pinnacle Logistics Park located at 24400 Glendale Road in Redford, Michigan. The property will be utilized by DTE Energy to store their equipment. The lease was secured at an asking rent of $4.25 per square foot.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: Not specified
- Date: 07/28/2023
- Address: 24400 Glendale Road, Redford, Michigan
- Market: Redford, Michigan
- Tenant: DTE Energy
- Landlord's Representative: Jared Friedman - Friedman Real Estate
- Tenant's Representative: CBRE
The deal was negotiated with the assistance of CBRE, who represented DTE Energy in the transaction. Jared Friedman of Friedman Real Estate acted as the landlord's representative throughout the process.
Players
Redford Industrial Market Snapshot
Boundary boundary · Industrial · Lease transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
30.02%
Cash-on-Cash
-8.58%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93