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TROY, MI-A three-lease deal totaling 24,800 sf has pushed a six-building, 167,240-sf industrial park at the intersection of I-75 and 14-Mile Road to 100% occupancy. Two of the deals involved renewal/expansions, while the third deal, inked by Auto Focus, for 7,200 sf, involved a new long-term lease.

Situated on 11.5 acres at 1300-1400 Rankin Dr.. in Detroit's northwest sector, the park was constructed during the late 1970s and early 1980s, and is owned by Liberty Property Trust of Malvern, PA. Liberty represented itself in all three deals.

Long-term renewals were negotiated for Vitasalus Inc. and TDS Inc., both of which had been tenants since 2002. A source with Liberty's Southfield office says that Vitasalus, formerly known as Global Trends, expanded from 2,000 sf to 12,000 sf, while TDS moved to 5,600 sf, from its former 4,000 sf.

The quoted lease rate on the space is $5.95 to $6.50 per sf, with negotiations conducted directly with all three tenants. TDS took the space as is, while Vitasalus financed its own build-out, the source tells GlobeSt.com.

Vitasalus is using the space for its headquarters and requires the expansion for a boost in warehousing activities. The company distributes nutritional supplements, air and water filtration and other environmentally safe products. TDS, which also has its headquarters in the park, designs and produces retail displays, while Auto Focus is a supplier to the automotive industry.

Instant Insights /

Three Leases Push 167,000-SF Industrial Park to 100% Occupancy

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