Grand Rapids Facility
Industrial net lease property in Grand Rapids, Michigan — sponsored by Secure Properties
Files with the SEC as Secure Net Lease Industrial II, DST
Minimum investment
$25k
Offering size
$28.6M
How much has sold
None sold yet
Asset type
Industrial net lease property
Location
Grand Rapids, Michigan
Financing
Not stated. The filings for this offering do not say whether it carries mortgage debt.
Sponsor-reported, from SEC filings and cited sources.
What is this, in one paragraph?
Secure Net Lease Industrial II, DST is a Delaware statutory trust — fractional, passive real estate ownership whose interests can serve as replacement property in a 1031 exchange — formed to hold one industrial and research building in Grand Rapids, Michigan net-leased to GE Aviation Systems LLC under a GE Aerospace corporate guaranty.1 Secure Properties sponsors it, and the Offering is raising from accredited investors.
SEC Form D filed 2026-07-14 (CIK 0002142445, file no. 021-590618) by Secure Net Lease Industrial II, DST (a Delaware statutory trust, industry code 9999 'Other Real Estate'); principal office 450 Lexington Avenue #4539, New York, NY 10163. Related parties/promoters: Secure Net Lease Industrial Manager II, LLC; Secure Net Lease Industrial Depositor II, LLC; Secure Real Estate Exchange, LLC (all at the same New York address). Executive officers: Brian Mansouri (CEO of Manager), Kevin Ross (President of Sole Member of Manager), James Gagliano (Vice President of Sole Member of Manager). Offering sold through Orchard Securities, LLC (CRD 133378), 365 Garden Grove Lane, Suite 100, Pleasant Grove, UT 84062, under Rule 506(c) (Item 06c). Total offering amount $28,621,000; amount sold $0 as of filing (yet to sell). No dedicated trade-press or sponsor-site article specifically naming 'Secure Net Lease Industrial II, DST' was identified; coverage relates to the sponsor's DST platform launch (Jan
Show sources (10)Hide sources (10)
These links support the public record as a whole; individual details may come from different sources.
Grand Rapids, Michigan · exact location not on recordThe filings name the market but not an address we can place on a map.
On a 45-day clock? Find day 45 and day 180 from the sale date, then come back to this record.
What exactly is the property?
Sponsor-sourced offering material describes a single-tenant industrial and research facility on roughly 42 acres, occupied by GE since 2007, and says the Trust bought it at a 3% discount to a June 2026 JLL appraisal.1 CoStar reported on August 3, 2026 that Global Net Lease sold the fully leased building for $48.41 million.2 Crain's Grand Rapids Business reported on August 7, 2026 that Secure Properties bought the property for $48 million.
- Property address
- 3290 Patterson Ave SE, Grand Rapids, Michigan
- Property size
- ~369,000-square-foot building
Who is the tenant, and what's the lease?
Offering material identifies GE Aviation Systems LLC as tenant, with a full corporate guaranty from parent GE Aerospace, on a net lease — the tenant carries most operating costs — running through December 31, 2035 with 2% annual rent increases and no termination options.1 The same material says GE plans to invest more than $14 million in the premises.1
How are sales going?
These are the sponsor’s own numbers. They can lag what has actually sold, and they do not confirm that interests are still available.
Raise history appears here once sales are filed — free account required.
How is it financed, and what does it pay?
The Trust is leveraged. Sponsor-sourced material describes a mortgage from Old National Bank, fixed through an interest-rate swap, interest-only for its first three years and amortizing thereafter, with a balloon payment due October 1, 2034.1 A lender is repaid before investors, and DST holders cannot renegotiate a loan themselves.
Who's behind it?
Secure Properties is a New York-based net-lease investor that opened its DST platform on January 28, 2026 with Secure Net Lease Industrial I, a $21.9 million offering on a 123,000-square-foot industrial building. AltsWire reported on July 20, 2026 that the debut DST was fully subscribed and that this larger second Trust had launched. Brian Mansouri is chief executive of the manager, with Kevin Ross and James Gagliano as officers; Orchard Securities, LLC places the interests.
- Sponsor
- Secure Properties
- Legal Trust name
- Secure Net Lease Industrial II, DST
- May convert to a REIT
- No
- Offerings from this sponsor
- 2 active / 2 total offerings from Secure Properties
Reported by the sponsor. Top1031 does not independently audit sponsor-reported figures.
What does the paperwork say?
The record is a single original Form D notice with no amendment since, so the figures on file speak only as of that date. Interests are offered under an exemption that permits public advertising, provided the sponsor verifies every buyer is an accredited investor — someone meeting SEC income or net-worth tests.
- Form D filedFirst and latest filing on record.
- Filings on record
- 1
- How it may be offered
- Rule 506(c)May be advertised publicly. Every buyer’s accredited status must be verified.
- Source filing
- Read the filings on SEC EDGAR
A Form D is the notice a sponsor files when it starts raising money. A Form D filing does not mean the SEC approved, endorsed, or verified the offering.
DST interests are illiquid private securities. You may lose some or all of your investment. Distributions, tax treatment, and exit timing are not guaranteed. Review the current Private Placement Memorandum before investing.
Common questions
Is Grand Rapids Facility still raising money?
Top1031 lists Grand Rapids Facility as active because the sponsor is still filing with the SEC. That does not confirm that interests remain available.
Where does Top1031 get the data for Grand Rapids Facility?
Top1031 builds this record from the sponsor’s own SEC filings and cited sponsor disclosures. Filings can lag what is happening now. A Form D filing does not mean the SEC approved, endorsed, or verified the offering.
What does this Trust own?
A single-tenant industrial and research building at 3290 Patterson Ave SE in Grand Rapids, Michigan. Sponsor-sourced material distributed by Baker 1031 describes it as approximately 369,000 square feet on about 42 acres, occupied by GE since 2007. CoStar reported on August 3, 2026 that Global Net Lease sold a fully leased 369,000-square-foot building at that address for $48.41 million, or $131.20 per square foot, without naming the buying entity.
Who is the tenant and how long is the lease?
Sponsor-sourced offering material identifies the tenant as GE Aviation Systems LLC, with a full corporate guaranty from parent GE Aerospace, formerly General Electric Company. That material states the lease expires December 31, 2035, carries 2% annual rent increases and has no termination options, and that GE plans to invest more than $14 million in the premises. None of these terms appear in the SEC filing, so the lease itself and the PPM — the private placement memorandum governing the offering — are where an investor confirms them.
Does the Trust use debt?
Yes. Sponsor-sourced material describes total capitalization of $55,410,500, of which $26,789,500 is debt: a loan from Old National Bank fixed at 5.938% through an interest-rate swap, interest-only for the first three years and amortizing after that, with a balloon maturity of October 1, 2034. The same material reports an in-place loan-to-value of 48.35%. The Form D discloses no debt terms, so the loan documents attached to the PPM are the governing record.
Did the Trust buy the building, and for how much?
Two reports cover a sale of this exact address in August 2026 and do not fully agree, and neither names the Trust as the legal buyer. CoStar reported on August 3, 2026 that Global Net Lease sold the building for $48.41 million. Crain's Grand Rapids Business reported on August 7, 2026 that Secure Properties bought the GE property for $48 million. No deed or closing record was located in the reviewed sources, so the purchase agreement referenced in the PPM is where basis and closing date are confirmed.
Is the Trust still open to new investors?
It is an active offering. Only the original Form D dated July 14, 2026 appears on EDGAR, with no amendment located since, so the progress figures on file speak solely as of that filing date. Distributor web pages showed differing remaining-availability figures across their August 2026 updates, and one update displayed a status label inconsistent with an open offering; those are marketing page states, not filings, and they are not reconciled with the SEC record. Ask the sponsor or your broker-dealer for current availability in writing before you name this Trust on a 45-day identification list.
Why does the DST structure matter for a 1031 exchange?
A Delaware statutory trust holds title to the real estate and issues beneficial interests. The IRS treats those interests as real property for Section 1031 purposes, so an exchanger can place sale proceeds into a DST instead of buying a whole building. Investors have no management role and cannot direct the property, the lease or the loan. This Trust is offered under Rule 506(c), meaning it may be advertised publicly but every buyer must be verified as an accredited investor. The Form D discloses no 721/UPREIT exit — a later contribution of the property to a REIT in exchange for operating-partnership units.
Chapter 9Grand Rapids, Michigan, flex building fully leased to GE Aerospace sellsCoStar reported that Global Net Lease sold the 369,000-square-foot flex building at 3290 Patterson Ave. SE in Grand Rapids, fully occupied by GE Aerospace through 2035, for $48.41 million. Secure Properties Fully Subscribes Debut DST, Launches Second Seeking $28.6MSecure Properties fully subscribed its debut DST and launched Secure Net Lease Industrial II as a $55.4 million vehicle seeking $28.6 million in equity, anchored by a GE Aviation-leased property with a GE Aerospace guaranty.