Grubb & Ellis Co. of Southfield vice president Chuck Ginster and Mike Vaughn represented both parties in the deal, the first of its kind in the submarket in the last six months.
Warehouse/manufacturing vacancy remains relatively unchanged at 11.19% for the Detroit area industrial market, according to Colliers International. Vacancy in high-tech space has decreased nearly two points since year-end 2001 and now stands at 17.08%, Colliers reports.
Troy, which has 18 million sf of industrial space, has a 10% vacancy rate, Colliers says.
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