X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

(To read more on the industrial market, click here.)

TAYLOR, MI-GL Ziegler Investments, a holding/real estate arm of auto supplier Alken-Ziegler Inc. in Kalkaska has signed a mid-term lease for 33,040 sf of freestanding industrial space as part of an expansion and relocation. The manufacturing-oriented property, situated on two acres, is located at 25575 Brest St. and has a fenced-in outer lot as well as office and industrial space.

“They have operations in other locations, and now they’re in Taylor as well,” says John Lominack of Colliers International’s Southfield office. Lominack and Colliers colleague Larry Kelly represented the tenant in the transaction. Representatives from Grubb & Ellis Co.’s Southfield office were on hand for the property’s landlord, Persiconi & Persiconi, LLC in Detroit.

Alken-Ziegler, a cold-forming manufacturer of machines, metals and other items, had picked up business from the bankrupt Delphi, which required more space. “We looked at three or four different locations, but they needed to be in Taylor because that’s where their existing employee base was,” Lominack tells GlobeSt.com. “This particular property met their requirements in term of square footage, location and lease rate.”

Lominack says that the property had a quoted lease rate of $5.75 per sf gross, on an annual basis. He adds that tenant improvements for the transaction were minimal, as the property had been completed in 2001 and didn’t need anything in the way of upgrades. “They took the space as-is, and it suited their purpose very well,” he says.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt. NET LEASE Spring 2021Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information
 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.