The asking price for the lease, $5.95 triple net, per sf, per year, was "close to what we ended up getting," Joseph E. DePonio, III tells GlobeSt.com. DePonio, a broker with Troy, MI-based L.Mason Capitani , along with Jason Capitani, represented the landlord in the transaction.
The property, located at 51201 Celeste Dr., was built in 1986, and offers 1,200 sf of office space, as well as a clear span warehouse. "The space has been vacant for a few years, though the landlord had let tenants use it for storage," says Capitani, executive vice president of L.M. Capitani. Capitani tells GlobeSt.com that tenant took the space as is, and no renovations were necessary. Rachel Downs with Trammell Crow Co.'s Detroit office represented City Electric Supply in the transaction.
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