BROWNSTOWN TOWNSHIP, MI-Ashley Capital has signed 872,478 square feet of new industrial leases at its five-building Brownstown Business Center here. The 2.8-million-square-foot complex is in the Downriver/Southern Wayne County submarket of the Detroit area.
MTU Detroit Diesel, a designer and maker of medium and heavy-duty diesel engines, leased 395,000 square feet of distribution space at 19771 Brownstown Center Dr. Also, logistics provider Cabot Street leased 363,756 square feet at 20501 Pennsylvania Rd. Rounding out the leases was Federated Group Services, taking 61,000 square feet at 19771 Brownstown Center Dr. and Marketing and Industrial Solutions Corp. leasing 52,722 square feet at 19881 Brownstown Center Dr.
Dan Labes, Jim McClowry represented Ashley in the leases. Tony Avendt, also from Grubb & Ellis, represented MTU in its transaction. This complex was created in the late 1990s, with other tenants including International Paper, Detroit Ed and TDS Automotive.
Activity in the logistics sector is picking back up, especially in facilities such as this, Labes said in a statement. The third largest Detroit industrial submarket has about 54 million square feet, but has stumbled to 20% vacancy, according to a Grubb & Ellis report.
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