STERLING HEIGHTS, MI-In its move toward expansion and consolidation, Welders and Presses (WPI), has signed a 40,651-sf deal for relocation to a free-standing industrial building. The transaction for the property, located at 42600 Mound Rd., consists of a one-year sublet from Teleflex Fluid Systems, then a five-year independent lease directly with the property's owner, A.J. Damman Co.
The deal means WPI, which provides turnkey systems in all areas of resistance welding, can consolidate operations from its two former plants, approximately 18,000 sf and 20,000 sf, located on Industrial Drive in Macomb Township. These two buildings, which are currently vacant, are on the market for lease, with Tom Jablonski of L. Mason Capitani Inc. in Detroit handling leasing activities.
"The tenant had looked at approximately 10 properties," says Jason Capitani of L. Mason Capitani, who, with Jablonski, brokered both sides of the deal. "This particular property offered the amenities necessary for them to offer their operation, such as heavy power, air lines, water lines and corporate image."
Capitani also represented Teleflex, in conjunction with Binswanger Real Estate in the sublet transaction. Capitani tells GlobeSt.com that the quoted sublet rate of the property, built in 1994, was $5.75 per sf, annually. No quoted lease rate for the remaining give years was made available, as the building was never marketed for lease.
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