Brose North America has signed a lease for 96,250 sf, and OakleyIndustries will take 137,650 sf, in moves that will require theexpansion of the building. "Macy's moved out and tried to lease andsell the building for no success for about a year," says TomSchoenberger, regional real estate director for Welsh. "This was avalue-add buy, we started the purchase process and the local marketpicked up enough that we were able to get these two tenants." Hewould not reveal the exact leasing price, but said the lease rateis close to between $4.50 and $5 per sf.

Schoenberger tells GlobeSt.com that his company mostlyconcentrates its Detroit-area holdings around the airport inRomulus. "The industrial market there is surprisingly steady, giventhe economy," he says. "Newer big box buildings near the airporthave less than 9% vacancy, and last year we had more than 60 dealsover 60,000 sf." He says he's working on leasing up a 296,000-sfspec building that Welsh is building at Romulus and Cogswell roads.Wayne County, where Romulus is located, has been offering generoustax incentives of a 50% tax abatement for five years. "There's beenvery strong activity, there's not that many spec buildings going uparound there. We should be complete by Nov. 1 with the AerotropolisBusiness Center."