Updated Dec 4, 2024
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:
- Property Type: Industrial
- Transaction Amount: Not specified
- Address: 5775 Interface Drive
- Market: Ann Arbor, Michigan
- Tenant: Edge Autonomy Energy Systems
- Landlord: Mansour Cos
- Tenant's Representative: Craig Herschel, Kyle Passage & Steve Langton - Cushman & Wakefield
- Landlord's Representative: Matt Buslepp - Avison Young
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
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