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2206 Pine Ridge Drive

Altron Automation Sells 64,035 SF Industrial Facility In Jenison To Pleotint For $6.1M
SOLDIndustrial

Altron Automation Sells 64,035 SF Industrial Facility In Jenison To Pleotint For $6.1M

2206 Pine Ridge Drive

$6,100,000

$95/SF

Building Size

64,035 SF

Asset Type

Industrial

Closing

Feb 12, 2024

AI

The $6.1 million sale of a 64,035-square-foot manufacturing facility in Jenison, Michigan has been brokered by Coldwell Banker Commercial. The property, located at 2206 Pine Ridge Drive within Georgetown Industrial Center, features a clear height of 25 feet, cranes, and four docks. It was sold by Altron Automation to Pleotint, a glass fabrication company.

Summary of transaction details

  • Property Type: Industrial
  • Transaction Amount: $6,100,000
  • Address: 2206 Pine Ridge Drive, Jenison, Michigan
  • Market: Jenison, Michigan
  • Square Footage: 64,035
  • Price Per Square Foot: $95
  • Seller: Ron McNees - Altron Automation
  • Broker: Jim Edewaard - Coldwell Banker Commercial

Coldwell Banker Commercial played a role in connecting the buyer, Pleotint, and the seller, Altron Automation, in this significant transaction. The manufacturing facility in Jenison offers a well-designed space with a high clear height and necessary equipment, making it an attractive asset for Pleotint to expand its glass fabrication operations.

Players

Jim Edewaard

Coldwell Banker

Broker

$6.1M

vol

1 deal

Broker

Jenison Industrial Market Snapshot

Boundary boundary · Industrial · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

2.60%

Cash-on-Cash

-0.74%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93