FARMINGTON HILLS, MI-An Israeli-based company has inked a long-term, 7,000-sf deal in the 250,000-sf West Tech Park, which is owned and managed by Philadelphia-based Liberty Property Trust.
SmartTCP, which designs and manufactures turnkey software and programming to help support robotic activities in manufacturing operations, plans a Feb. 1 move-in to its new location, located on Haggerty Road. It could not be determined if this was SmartTCP's first entry into the US.
According to Joe Trinkle, vice president and city manager of Liberty Property Trust's Detroit office, the quoted rate per sf on similar property leases is $12.50, triple net. "There were definitely additional TIs and build-outs included in the deal," Trinkle tells GlobeSt.com.
West Tech Park is part of the overall 20-acre, 500,000-sf, six-building Technology Park which is located south of Twelve Mile Road and near Interstates 275 and 696. The park is 91% leased. SmartTCP and Liberty Property were both self-represented in the transaction.
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more inforrmation visit Asset & Logo Licensing.
