Syndicated Equities has recently acquired the Class A, 58,722 square-foot Carhartt Global Design and Corporate Headquarters located at 5750 Mercury Drive in Dearborn, Michigan. The property serves as both Carhartt’s corporate headquarters and state-of-the-art global design center. This acquisition was made through a Delaware Statutory Trust (DST) ownership structure to accommodate investors completing Section 1031 exchanges and accredited individual investors.
The sale was part of a larger transaction by Net Lease Office Properties (NLOP), a publicly traded real estate investment trust, which sold four U.S. office properties for gross proceeds totaling approximately $43.1 million. The Carharrt headquarters building was one of three properties included in this transaction that sold for $9.8 million.
According to Syndicated’s Managing Partner Matt McCulloch, investing in an income-producing property with a long-term lease from an investment-grade tenant is especially beneficial during times of market volatility.
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The article “Carhartt HQ Building & Design Facility Acquired by Syndicated Equities” originally appeared on Connect CRE.
