ROYAL OAK, MI-In an efforts to consolidate operations in the area, local moving company Hewelt Moving & Storage Inc., has signed a mid-term lease for 14,250 sf of industrial/flex space.
Located at 1300 Campbell Rd., and owned by Detroit-based Burton-Share Warehouse Center, LLC, the 38,000-sf property is at 100% occupancy as a result of the deal. The company is planning a December move-in date.
"They were spread out in other buildings throughout the area, so this represents somewhat of a consolidation for them," explains Brian Gargaro, an associate broker with Colliers International's Southfield office. Gargaro and Colliers colleague, Ralph Steinbrink, facilitated the transaction on behalf of the tenant and landlord.
Though the property is somewhat older, Gargaro tells GlobeSt.com that no tenant improvements or renovations were necessary, and Hewelt took the space as-is. The quoted rate for rent in the area is $3.75 per sf, triple net on an annual basis, though it was not released how much Hewelt is paying for its lease. Hewelt, which is headquartered at 2422 N. Vermont Ave., will use the space for warehousing purposes.
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