Thank you for sharing!

Your article was successfully shared with the contacts you provided.

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

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.”

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 Fall 2021Event

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

Get More Information


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.