Property details

Carhartt Global Design & Corporate Headquarters

Investment type

Net Lease

Asset Class

Multifamily

Ownership Structure

Delaware Statutory Trust (DST)

Year Acquired

2023

Investment Summary

The Property consists of a two-story, 58,722 square foot, Class A building situated on a 7.7-acre parcel at 5750 Mercury Drive in Dearborn, Michigan. Carhartt utilizes the Property as a design, research, and development facility as well as its corporate headquarters. The Property was a build-to-suit for Carhartt in 2002.

The majority of the property is utilized as Carhartt’s state-of-the-art global design center, the creative hub of the company where all fabric and design decisions are made for new apparel. The Property also serves as its center for research and development, which includes laboratory space, industrial washing machines, and other prototype equipment for durability testing.

Syndicated structured its acquisition as a Delaware Statutory Trust (DST) to accommodate investors completing a Section 1031 Exchange