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TROY, MI-New York-based MGA Research Corp., in its efforts to expand its presence and business locally, has purchased 117,000 sf of industrial/flex property. The property, consisting of five buildings, was listed for $2.9 million by an out-of-state lender, and is situated on approximately 10 acres at 2839 Elliott Ave, on Troy's south side.

According to Kris Pawlowski with Signature Associates-Oncor International's Southfield office, who represented MGA in the transaction, the closing price was close to the listing price. Pawlowski tells GlobeSt.com that MGA examined six other properties during the process and "they decided on this one because it was right down the street from their current location, and provided the right climate for the future of their business."

At this time, he adds, MGA is renovating and retrofitting the 1970s-constructed buildings, though two tenants remain on the property in short-term leases. "Once those leases expire, they'll vacate the properties," he notes. The cost of renovation could not be obtained by press time.

MGA's current operations in Troy, located at 446 Executive Dr. consist of testing and exposing equipment and materials to elements such as corrosion, sun weathering, dust and ozone. The Michigan operation, known as the Materials Test Laboratory, is a division of the overall MGA Research Corp. Friedman Real Estate Group Inc. in Farmington Hills represented the seller in the transaction.

Instant Insights /

MGA Purchases 117,000 SF of Industrial Property for Expansion

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