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ROMEO, MI-Shafer Builders Inc., a real estate developer and builder based here, has sold a 14,400-sf build-to-suit facility to Cammand Machining, LLC, a Chesterfield Township-based company, for more than $1 million.
Cammand, which commissioned the build-to-suit for its expansion needs, will move into the new building, located at 101 Shafer Rd., in January 2006. To prepare the site for its move-in, Cammand has invested $1.3 million worth of infrastructure into the property, receiving a 12-year tax exemption from the Romeo Village Board of Trustees in response. The abatement will allow the company to purchase more than $800,000 in equipment for its new facility and to add more employees to its current base.
"This was economic development activity for the village, and Cammand realized the chance for the abatement, which was why they invested in infrastructure," says Joe DePonio III, an associate broker with Detroit-based L. Mason Capitani Inc. DePonio represented both Shafer and Cammand in the transaction.
Cammand, which will double the size of its current facility located at 46390 Continental Dr., specializes in stamping dies, plastic injection molds, and specialty milling for the medical and automotive industries. Cammand has even more room to expand at the new Shafer Road location, if necessary. "The building will sit on more than an acre of land," DePonio tells GlobeSt.com. "That's more than enough room for expansion."
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