Highlights
•Essential Corporate Locations: These properties function as the main headquarters for Garden Fresh Gourmet. •Established Tenant Presence: Garden Fresh Gourmet has occupied the sites since the company was founded. •Strong Rent Growth Potential: Lease includes a 10% rent increase in the next renewal period, followed by four additional options with market-based rent escalations. •Undermarket Rent: Current lease rate is $5.06 PSF NNN, compared to a market rate of $8.90 PSF for industrial space. •Hands-Off Investment: NNN lease structure provides minimal responsibilities for the landlord. •Prime Ferndale Location: Centrally located in downtown Ferndale, just off Woodward Avenue.
Description
Addison Williams of CBRE is pleased to present for sale a five-building industrial headquarters portfolio fully leased to Garden Fresh Gourmet, LLC. The tenant has operated from this Ferndale, MI campus for nearly 20 years and entered into a new 5-year master lease in 2021, covering all five buildings. With less than two years remaining on the current term, the lease includes five renewal options of five years each—the first with a 10% rent increase, and the others tied to market rate escalations. The lease is structured on a NNN basis. Founded in Ferndale nearly two decades ago, Garden Fresh Gourmet has grown into a multi-national brand and is recognized as the top refrigerated salsa producer in the U.S., with additional product lines including tortilla chips, dips, hummus, and salads.
Property Documents
Ferndale_Garden_Fresh_Portfolio_Flyer.pdf
3.37 MB
Listing Details
- Cap Rate
7%
- Tenancy
Single
- Space Type
Industrial
- Sub Category
Distribution
- Date Listed
10/8/2025
- Ownership Info
Fee Simple
- Broker/Agent Co-op
Yes
- Investment Type
Net Lease
- Net Operating Income
$461,282
Property Specifics
- Property Name
Garden Fresh Headquarters | Ferndale, MI
- No of Buildings
5
- Building Size
91,173 SF
- Lot Size
4.5 Ac
- Occupancy
100%