WARREN, MI-To fulfill a contract obtained from DaimlerChrysler, Android Industries, LLC, a Detroit-based automotive supplier, has inked a 10-year, 150,000-sf deal for single-tenant industrial space in the Warren Tank Arsenal renaissance zone.
"We marketed it and decided to see who came down the road," says Paul Hoge, principal and associate broker with Southfield-based Signature Associates-Oncor International who with colleague Peter Walocko, represented the tenant and the landlord, Warren Industrial Investors, LLC of Detroit, in the transaction.
The property, located at 27767 George Merrelli Dr., has a quoted rate of $8 per sf annually, with escalations. Hoge tells GlobeSt.com that when it came to lease negotiations, "there wasn't a lot of wiggle room, and it needed a fair amount of customization." Additionally, because the building was new, it was in shell condition and needed to be customized to fit the tenant's needs.
However, Hoge adds, because the property was in a renaissance zone, tax credits helped defray some of the customization costs. "What was needed was the right user who needed to be in that location, and who had the right tax credits," he says. "Android had all of that."
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