LMS Leases 35,500 SF for North American HQ

TROY, MI-Belgium-based LMS North America Inc., an engineering firm, has leased 35,500 sf of office space in the former Collins & Aikman headquarters building here at 5755 New King Court. The rest of the 60,000-sf building is still vacant. The building is in the 187-acre Northfield Hills Corporate Center business park.

Collins & Aikman, an automotive supplier, moved out to 14 Mile Road and Stephenson Highway in Troy in 2002, and has since moved again to Travelers Tower Two in Southfield in the second quarter 2006 after declaring bankruptcy. Mitchell Lipton, an EVP with Friedman Real Estate Group, says it’s good to finally get a tenant in the 5755 New King facility. Lipton handled the LMS deal on behalf of the unnamed building owner. LMS is using the facility to house their expanded North American corporate headquarters.

Lipton wouldn’t divulge the lease rate attained in the 15-year deal, but the lease rate at the building is $21 per sf, plus electric, according to the Friedman website. The property was built in 1999. Sources say New King LLC sold the property to an unnamed buyer for in August. The asking price had been $8.7 million.