FT. WAYNE, IN—The US auto industry continues to rebound, and that's good news for the owners of industrial spaces. A specialty automotive parts and assembly company, for example, has just leased 764,000 square feet at 2909 Pleasant Center Rd. in Fort Wayne, IN, a city in the northeast corner of the state. The building has been vacant since late last year, after General Mills outgrew the space.
"We had a ton of demand from tenants looking for between 100,000 square feet and 200,000 square feet," JLL executive vice president Brian Seitz tells GlobeSt.com, but the building is better-suited for large users. Seitz and JLL's Steve Schwegman, both based in Indianapolis, represented the building owner, Phoenix-based VEREIT, in the transaction. The tenant was represented by Greg Pink of the Bradley Cos. in South Bend, IN.
The tenant will use the space to store car bodies, which it will then assemble at its production facility in Mishawaka, IN. The cars will then be shipped to China for sale.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Brian J. Rogal
Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.
