LANSING, MI-STAG Capital Partners has purchased a fully leased 250,100-sf manufacturing facility here. Citing confidentiality agreements, Mike Chase, STAG vice president, declined to release the acquisition price for the building, which is situated on 25.4 acres at 5640 Pierson Rd.
The acquisition is STAG's first buy in Lansing and fits the company's acquisition strategy well, Chase says. The Boston-based firm acquires and manages single-tenant, net-leased warehouse, flex, manufacturing and office facilities across the country. The Lansing manufacturing facility is fully leased to the Woodridge Group, which recently signed a new five-year lease. Woodridge is a provider of automotive urethane technologies and just-in-time assembly and sequencing systems. STAG also owns properties in the Detroit and Grand Rapids areas.
Ed Mikolay of CB Richard Ellis brokered the transaction. STAG was represented internally by Chase.
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