NKF Facilitates MI Industrial Sale
- Jun 12, 2018
Newmark Knight Frank has represented National Print and Mail in selling a 22,000-square-foot warehouse in Troy, Mich. The buyer is SourceHub, an online distributor of warehousing and facility equipment. The firm is relocating from 2200 Stephenson Highway as it requires additional space to expand operations. Moving date was set for July 2018. Senior Managing Director Geoff Hill and Associate Paul Gyarmati brokered the deal.
The distribution facility is located at 1875 Stephenson Highway, close to Interstate 75. Completed in 1965 in a dense industrial area, the property spans 2 acres and includes 1 acre of outdoor, paved and secured storage space. In addition to warehouse space, the facility encompasses an office component and features LED lighting.
For several quarters, the industrial real estate market in Troy has seen an increased interest from both local and out-of-state investors and businesses as a result of the rise of the automotive industry. The e-commerce sector, led by Amazon’s repeated expansions, has also boosted leasing and transaction activity.
Image courtesy of NKF