PONTIAC, MI-In its quest to expand, American Warehousing and Distribution Service Inc., a logistics and sorting company for tier-one automotive suppliers, has signed a one-year lease, with option for renewal, to take over a 17,000-sf industrial property. Located at 1248 Oakland Ave., the property, constructed in 2001, was vacant prior to the transaction. American Warehousing's main address is 25 W. Walton Blvd. in Pontiac.
Gary Gruskowski, vice president of the industrial division at Insite Commercial Group's Southfield office, notes that though the initial lease is of short-term duration, the company will likely stay for a longer term when this particular lease expires.
Gruskowski, who represented the tenant and the landlord, Detroit-based North Woodward Automobile Club, LLC, in the transaction, tells GlobeSt.com that the quoted lease rate is $5 per sf gross without TIs. "They came down a bit on the price on this deal," he adds. He also says the company is taking the space as is, with no renovations or build-outs.
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