ICP Buys Pair of Midwest Warehouses

The properties are located in Bryan, Ohio, and Holland, Mich., and formerly belonged to Adient. They are fully leased to Yanfeng Automotive Interiors.
1776 Airport Park Court. Image via Google Street View

One month after adding 1.4 million square feet to its Ohio portfolio, Industrial Commercial Properties has acquired two other industrial facilities in Holland, Mich., and Bryan, Ohio. The assets belonged to Adient and total 470,000 square feet. Both properties are fully leased to Yanfeng Automotive Interiors.

The Bryan asset is located at 918 S. Union St. and represents ICP’s first acquisition in the market. The property encompasses 320,500 square feet and sits across the street from another facility leased to Titan Tire Corp. The tenant has access to State Route 127 while Williams County Airport and Interstate 90 are only a few miles away.

The second property spans 148,000 square feet at 1776 Airport Park Court in Holland. The asset is located off Interstate 196 and is very close to West Michigan Regional Airport. Following the acquisition, ICP’s Holland portfolio mounted to 1.5 million square feet. Last year in September, ICP bought from Adient two other industrial facilities at 1600 S. Washington totaling 665,000 square feet. In 2016, the company also bought a 750,000-square-foot multi-tenant, tech center at 701 S. Waverly.