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CHESTERFIELD TOWNSHIP, MI-An automotive supplier is expanding and relocating into a 49,612-sf freestanding industrial building, thanks to the inking of a long-term lease. The Hersh Co. Inc., currently located at 50570 E. Russell Schmidt Blvd., has taken on additional space at 50371 Russell Schmidt Blvd. because of a strong growth in its business.

According to Jack Williams, vice president of Colliers International’s Southfield office, the tenant will move in and be up and running some time during January 2006. “The deal we struck with the landlord was on an as-is basis,” says Williams, who represented both the tenant and the landlord, Chesterfield Associates, LP of Chesterfield Township in the transaction.

Williams, who notes he had a previous relationship with the tenant from a deal completed about a year ago, tells GlobeSt.com that the asking rate on the property was $3.50 per sf, triple net, but the tenant is responsible for its own TIs.

The building, constructed in the late 1970s, was the former site of Unibond, which recently vacated the space. Williams notes that The Hersh Co. isn’t making any plans to expand in the near future. “This particular move is a big one for these guys,” he adds, “but you never know.”

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