WARREN, MI-Minneapolis-based Welsh Cos. LLC has purchased a former Macy’s furniture storage warehouse here for about $7.5 million and has already found two tenants to lease up the vacant building. The 211,750-sf warehouse at 25295 Guenther Rd. was sold by Macy’s East Inc.

Brose North America has signed a lease for 96,250 sf, and Oakley Industries will take 137,650 sf, in moves that will require the expansion of the building. “Macy’s moved out and tried to lease and sell the building for no success for about a year,” says Tom Schoenberger, regional real estate director for Welsh. “This was a value-add buy, we started the purchase process and the local market picked up enough that we were able to get these two tenants.” He would not reveal the exact leasing price, but said the lease rate is close to between $4.50 and $5 per sf.

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