(Natalie Keith is a contributing writer to GlobeSt.com.)

AUBURN HILL, MI-The signing of two new leases at the 66,000-sf High Meadow Office building has brought the once-vacant property to 90% occupancy. Pennsylvania- and Canada-based Nova Chemicals signed a seven-year lease for 7,072 sf, and Auburn Hills-based Insight Network Logistics signed a lease for 3,793 sf.

Nova Chemicals produces materials for customers worldwide that produce consumer, industrial and packaging products and Insight Network Logistics is a logistics service company that specializes in automotive vehicle distribution. The length of the Insight lease was not disclosed.

The building sat vacant until it was purchased in 2004 by Summit High Meadow LLC as a speculative, turnaround project. Mason Capitani and Gary Grochowski, of L. Mason Capitani Inc.'s office properties division, represented the owner in both leases.

Capitani tells GlobeSt.com that after purchasing the building, the landlord made significant improvements to it. One of the most challenging renovations was making the single-user facility functional for several tenants. Since the improvements, the owner has activity sought users for the space. "For the past year and a half, leasing has been brisk in an area where office leasing has been somewhat sluggish."

Capitani believes favorable economics and tenant improvement packages offered with the spaces will attract tenants. Asking rents are $19.50 per sf in a market where asking rents are usually over $20 per sf, says Capitani. "The product is inviting to tenants. With all the upgrades, it's essentially a new building."