WASHINGTON, MI-Shelby Enterprises Inc., headquartered in Romeo, has expanded its facilities and abilities through the signing of a three-year, 10,678-sf lease. The company, a tier-one automotive supplier, plans to use the location for warehousing its equipment and supplies.
The property's owner, T&M Investment Properties, LLC in Shelby Township, will take up the remaining 7,050 sf. Situated on 1.2 acres at 12475 31 Mile Rd., the property, built in 1979, required no renovations prior to move-in. According to Larry Schultz, a sales associate with Friedman Real Estate Group in Farmington Hills, the quoted rate per sf is $3.75 triple net annually and "they were very close to the actual rate," he notes.
Schultz, who represented both parties in the transaction, tells GlobeSt.com that Shelby Enterprises had approached him to find a strong property. "We looked at several," he says, "and they took this particular one because the location was very appealing to them."
Shelby Enterprises, at 70701 Powell Rd., provides tube-based products and services including fuel-filler applications, fluid-carrying systems, safety-restraint applications and structural components, as well as an auxiliary R&D component to its products.
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