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Lease · Industrial

Updated Dec 4, 2024

Edge Autonomy Energy Systems Leases Industrial Building In Ann Arbor Michigan
LEASEDIndustrial

Edge Autonomy Energy Systems Leases Industrial Building In Ann Arbor Michigan

Building Size

85,000 SF

Asset Type

Industrial

Closing

Apr 2, 2024

About this deal

AI

An 85,000-square-foot industrial building lease was signed at 5775 Interface Drive in Ann Arbor, Michigan. The property, originally an office building, will be converted to meet the needs of Edge Autonomy Energy Systems, a producer of solid oxide fuel cells. The lease marks their 20 years of operation at this location, with Mansour Cos as the landlord and Cushman & Wakefield representing the tenant.

Summary of transaction details:

Edge Autonomy Energy Systems, specializing in solid oxide fuel cells, has secured a long-term lease for a significant industrial space in the thriving market of Ann Arbor. The property at 5775 Interface Drive, now undergoing customization to accommodate the tenant's requirements, reflects the ongoing commitment of both the landlord, Mansour Cos, and the tenant to this enduring partnership.

Players

Kyle Passage

Cushman & Wakefield

Broker

1 deal

Broker

Market 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

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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