NAI Mid-Michigan Arranges Sale-Leaseback and Land Acquisition for Greater Lansing Food Bank’s New Warehouse Facility
Okemos, MI – NAI Mid-Michigan recently represented Greater Lansing Food Bank in the sale-leaseback of its 30,000 square-foot Mint Road facility and the purchase of a 7.2-acre land parcel on Webster Road in Bath.
Jim Vlahakis, Principal, NAI Mid-Michigan began the site search for Greater Lansing Food Bank in 2018 focusing on relocating to another building in Lansing. While there was an uptick in owner-user sales activity there were no existing available buildings in Lansing that met the food storage and warehouse operation requirements. A new site search was undertaken focusing on land for new construction within Lansing’s city limits. More than 20 vacant land parcels were presented before an agreement on the Webster Road site was reached.
“Integral to proceeding with the new facility was the need to close on the sale of the Food Bank’s existing facility on Mint Road”, said Vlahakis. “We were focused on finding a buyer that would close and lease back the Mint Road property to the Greater Lansing Food Bank, eliminating the need for a double move. While we were able to accomplish this alongside the site search, it was not a certainty. The buyer’s plans were interrupted by the statewide shutdown when, early on, we weren’t sure if anything would be able to close. Fortunately, we were able to keep the deal alive and I couldn’t be more pleased with the outcome for an organization that impacts so many lives in our community.”
“Mr. Vlahakis presented numerous sites to our team prior to assisting with the Bath land selection,” said Michelle Lantz, CEO of Greater Lansing Food Bank. “His assistance in finding a buyer for our current warehouse, especially one who didn’t need to take immediate occupancy, allowed us to continue operations as normal, right up until we are ready to move into our new facility. This was especially important during the pandemic when nearly 30 percent more people were in need of food.”
Greater Lansing Food Bank will double the size of its warehouse with its new $7.5 million facility as part of its Building Hope campaign to address hunger in mid-Michigan.
Greater Lansing Food Bank (GLFB) alleviates hunger in seven mid-Michigan counties as the central warehouse and distribution hub for 150+ agency and pantry partners and internal food programs. Providing 9.3 million pounds (7.5 million meals) of donated, purchased, home-grown and rescued prepared food annually, this 501(c)(3) strives for a hunger-free community. Greater Lansing Food Bank serves Eaton, Clare, Clinton, Gratiot, Ingham, Isabella & Shiawassee Counties.
Jim Vlahakis, Principal can be reached at (517) 487-9222 and by email at firstname.lastname@example.org.
About NAI Mid-Michigan
Comprised of more than 30 real estate professionals, NAI Mid-Michigan is the best choice in commercial real estate firms in Mid-Michigan delivering clients a formidable package of office, retail, industrial, land and multi-family services and a direct pipeline to the area’s largest inventory of commercial property. NAI Mid-Michigan provides brokerage, investment properties, development and construction, property management, corporate and institutional services and property valuations supported by in-depth market intelligence. NAI’s global network is the single largest, most powerful owner-operated commercial real estate brokerage firm in the world. Located in 36 countries, with more than 375 offices and over $20 billion in commercial real estate transactions annually we’re all actively managed to perform for you. www.naimidmichigan.com