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VAN BUREN TOWNSHIP, MI-Neapco Drivelines LLC has fully leased a 342,856-sf building here to use as manufacturing space. The drivetrain solutions company signed a 10-year lease for the west building in the two-property Interchange West Industrial Park at 6735 Haggerty Rd. The park, which also includes an east building of about the same size, is owned by Van Buren Industrial Investors, a group of Kojaian Cos. executives.

Randall Allman with CB Richard Ellis Detroit tells GlobeSt.com that the asking rate for the building was $4.95, triple net. The building is designed to be a warehouse, he says, but Neapco wanted a certain type of roof in its manufacturing process that it could only find in a warehouse. “The company, a manufacturer of drive lines and universal joints for the automotive industry, has its headquarters in Pottstown, NJ,” Allman says. “They came here and bought a division of Ford, and moved it out to this building.” He was joined by Peter Rogers and Gregg Loichinger with CB Richard Ellis in representing the tenant on the transaction.

The other building is fully occupied, Allman says. Archway occupies about 250,000 sf, and Vistar leases the rest. Kojaian also owns the Van Buren Business Center, another two-building, 440,000-sf park not far from Interchange West.

The Downriver-Airport market, particularly warehouse facilities, is doing well, Allman says. That market, also known as the Western Wayne County market, is at about 12% vacant. “What’s being built is being absorbed,” he says.

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