Financial details of the sale and lease were not disclosed, but the building had an asking price of $7.7 million, says Jeff Lemanski, who worked along with Matthew Abell from C&W's Detroit office in Southfield on the deal. Lemanski and Abell marketed the property for about six months before closing on the deal.
The property was purchased by a large industrial developer in New Jersey which created the Battle Creek Industrial Center LLC for this property. The building was sold by AMT Freight, a logistics company that is a subsidiary of Mitsui O.S.K. Lines in Japan.
At the time of the sale closing, Lemanski and Abell also executed the lease agreement. Taking the lease is DLF Container Systems, packaging company that is serving an automotive supplier in the Battle Creek area. Lemanski said the asking price for the lease property was $3.25 per sf. C&W continues to serve as the agent and is marketing the remaining approximately 200,000 sf on the property.
The building is the largest industrial facility to change hands in the area in recent memory. The single-story manufacturing/warehouse facility is located at 2500 Logistics Drive in Battle Creek. Built in 1991, the concrete-block and metal structure is on just over 24 acres. The building contains 7,545 sf of office space, 34 dock-high doors, 22-foot to 26-foot clearance, a separate truck entrance and a large trailer staging area.
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