Four Springs TEN31 Xchange Acquires Fully-Leased Industrial Facility From InSite Real Estate For $139.5M

Four Springs TEN31 Xchange has acquired a fully-leased industrial facility located at 14741 Laplaisance Road in Monroe, Michigan. The transaction was valued at $139,500,000, covering an asset type classified as industrial with a total area of 1,100,000 square feet. The property is situated on approximately 97.8 acres. Under a 10-year triple-net lease to Ford Motor Co., the facility includes provisions for future expansion and is strategically positioned near Ford’s parts distribution center in Newport.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $139,500,000
• Buyer: Four Springs TEN31 Xchange
• Seller: InSite Real Estate
• Mortgage Brokers: Andrew Gibson, Jeremy Thornton, Lauren Smyle & Nicole Sayers - Colliers
• Sale Price per Square Foot: $127
• Square Footage: 1,100,000
• Acres: 97.8

Andrew Gibson, Jeremy Thornton, Lauren Smyle, and Nicole Sayers represented the mortgage brokerage firm Colliers in arranging $76.7 million in financing for the property acquisition. This team played a critical role in facilitating the financial aspects of the transaction, ensuring that the sale proceeded smoothly and met the financial needs of Four Springs TEN31 Xchange.