HILLSDALE, MI-Alsons Corp., a division of Taylor-based Masco, has taken on additional space for product-line expansion and distribution. The company recently signed a short-term lease at a 79,287-sf freestanding industrial facility.

The property, located at 266 Industrial, was built in the early 1980s, and had been vacated by the landlord/owner, Teleflex Inc. Teleflex is a multinational diversified industrial company, headquartered in Limerick, PA.

"Teleflex still owns it, but they were consolidating, so this was excess property for them," says Craig Mercier of L. Mason Capitani Inc. in Troy, who represented landlord and tenant in the transaction.

Mercier says that Alsons had looked at other properties, and were considering a build-to-suit as well. However, "this particular property fit their needs, they were able to do it at a good price, and could get up and going now," Mercier tells GlobeSt.com. "Nothing major needed to be done to the building to satisfy their manufacturing requirements."

The quoted lease rate on the property was $3.25, triple net, with little in the way of tenant improvements except for minor deferred maintenance, Mercier adds. Alsons' parent company, Masco, is one of the nation's largest manufacturers of bathroom and other plumbing fixtures. "They leased this property to bring new product into the market," Mercier says. "They'll use the space for manufacturing and distribution."