Novares Industrial Sale-Leaseback

JLL is pleased to exclusively offer for sale the Novares Sale-Leaseback, comprised of a single-tenant industrial manufacturing property totaling 119,436 SF on 12.38 acres (the “Property” or “Asset”). The Property is located at 1301 McPherson Park Dr, Howell, MI and is 100% occupied by Novares US, LLC (“Novares” or “Tenant”) as a core manufacturing and distribution facility for its Americas Body Parts operating unit. At close of this transaction, the Tenant will commit to a 20-year initial lease term and absolute triple-net master lease structure with four (4) x 5-year renewal options (at the greater of FMV or continued 2.50% increases), providing investors the opportunity to acquire a passive investment with contractually growing long-term cash flow backed by a market-leading global tenant at its strategically located facility with proximity to key customers within a dense industrial submarket of Detroit.

Founded in 1955, Novares, (The “Parent” or “Guarantor”) is a leading global Tier I/Tier II automotive OEM supplier that designs and manufactures complex plastic components and systems serving leading players across the industry. Headquartered in France with operations across 22 countries, Novares Group S.A.S. The Company innovates with cutting edge plastic injection for cleaner, lighter, more connected cars to lead the future of the automotive industry. As of today, Novares products are in one-third of every car, globally.