Pinnacle Logistics Park is now absolutely leased. Picture courtesy of Friedman Actual Property
DTE Vitality has signed a 528,340-square-foot lease at Pinnacle Logistics Park in Redford, Mich. CBRE negotiated on behalf of the tenant, which can use the property for tools storage. Friedman Actual Property is the proprietor of the 826,240-square-foot industrial facility since 2004, in response to CommercialEdge. The owner was represented in home by Jared Friedman.
The deal introduced the property to full occupancy. The tenant roster additionally consists of Judson Middle and Piston Automotive, the identical information supplier reveals.
Situated at 12723 Telegraph Highway and 24500 Glendale Highway inside Detroit’s Livonia submarket, the commercial facility options 12 drive-in doorways, 39 dock-high doorways, clear heights between 16 and 24 toes, a 12,000-square-foot workplace part, trailer storage and 413 automobile parking spots. The property can also be rail served, with 4 inside docks.
Located on an roughly 48-acre lot, the distribution facility is near Interstate 96 and U.S. Route 24, whereas being 12 miles from Farmington Hills, Mich., and from Detroit Metropolitan Wayne County Airport. The property is 14 miles from CSX Intermodal Terminal, 15 miles from Detroit and inside 23 miles of Warren, Mich.
Current offers in Detroit
All Midwestern markets recorded asking rents under the nationwide common of $7.33 per sq. foot as of June, in response to a latest CommercialEdge report. Twin Cities and Detroit have been closest to the nationwide determine, with asking rents of $6.50 and $6.66 per sq. foot, respectively. Detroit recorded one of many lowest emptiness charges within the Midwest, reaching 4.0 %.
Earlier this 12 months, Gladstone Business Corp. signed a five-year extension with Yanfeng Worldwide Automotive Know-how in Monroe, Mich. The tenant will proceed to totally occupy a 220,500-square-foot, Class A industrial property till 2028. One other latest deal consists of Industrial Realty Corp’s inking of a 113,742-square-foot, long-term lease at Pontiac Centerpoint Campus West in Pontiac, Mich.
