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

(Natalie Keith is a contributing writer to GlobeSt.com.)

SOUTHFIELD, MI-Signature Associates-Oncor International has been chosen as property manager for a four-building, 406,000-sf portfolio of single-tenant industrial buildings in Livonia, Romulus and Farmington Hills. Ashley Atwater, property manager with Signature, tells GlobeSt.com that the two Livonia properties include a 140,365-sf building at 38150 Plymouth Rd. and a 145,232-sf building at 38220 Plymouth Rd.

The Romulus building is a 77,508-sf structure at 6340 Middlebelt. The Farmington Hills building is 42,930 sf and located at 23290 Commerce Dr. The tenants in the buildings were not released.The buildings are owned by Syosset, NY-based Long Island Industrial. “The majority of buildings in Signature’s portfolio are industrial buildings, so they are a perfect fit for our portfolio,” Atwater says. All four buildings are less than 10 years old, so there are no immediate plans for changes to the structures. “The buildings are all in good condition so there aren’t any plans for renovations yet,” she says.

With the assignment, Signature adds a significant amount of space to its industrial portfolio of property and asset management. With the addition of 406,000 sf, Signature manages 1.2 million sf of single-tenant industrial property and 919,121 sf of multi-tenant property. Other properties in the company’s portfolio include 251,000 sf for Visteon in Plymouth; 180,000 sf for the Livonia Industrial Complex and 180,000 sf for Pico in Livonia; 140,940 sf for the Ann Arbor Commerce Center; and 122,207 sf for the Roseville Commerce Center.

With more than 27 million sf of industrial space, the vacancy rate in Livonia was 12.64% at the end of 2005, according to the company’s yearend statistics. In Romulus, there was 16.8 million sf of industrial space and a 16.17% vacancy rate, and in Farmington Hills, there was 11.6 million sf of total industrial space in December with a 7.79% vacancy rate.

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