Tony Avendt, associate VP of the industrial group for the Grubb& Ellis Co., says the property was functionally outdated,though it is 90% leased. The 630,000-sf Building One had the mostwork done, he says. "A 100,000-sf portion of the building wasdesigned to be an interior truck well, but it's an antiquatedbuilding, so it was designed for trucks smaller than standardtrucks today" he tells GlobeSt.com. "It was too tight for the newerrigs, and it made the space very difficult to lease." That spacewas removed and other work was done, including new tenant entrancesand signage, a widening of the exterior truck court, the additionof up to 54 exterior truck docks and upgrades to the buildingsystems.

|

The work has helped with leasing, Avendt says. AM General hastaken its space to 200,000 sf with a recent long-term leaseextension and a 50,000-sf expansion. Other tenants in the buildinginclude CHEP USA, Keller Transfer and Event Transportation Service."We have strong interest from several parties in the remaining129,000 sf," he says.

|

The other two buildings are leased, he says. This includes the230,000-sf Building Six and the 27,000-sf Building Seven. The nextphase of the redevelopment will see the construction of the newbuilding. "We don't know the exact timing of when that will start,"Avendt says. He says he can't comment on how much the renovation iscosting the owner.

|

He says distribution space is one of the more active segments ofcommercial real estate in the area, particularly in the western andsouthern Wayne County area. "We're optimistic that we'll have theremaining space leased by the fourth quarter," Avendt says.

Want to continue reading?
Become a Free ALM Digital Reader.

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.