4-building portfolio sold in Michigan

Majority of space occupied by auto industry suppliers
Published on Jul 16, 2007

STAG Capital Partners recently purchased 478,803 square feet of warehouse and manufacturing space in Chesterfield, Mich., for an undisclosed price. The four buildings, all located in the R.C. Schmidt & Sons Industrial Complex, were leased at the time of sale to four tenants. The tenant mix included Anchor Bay Packaging (311,042 square feet), a designer and manufacturer of packaging products primarily serving the automotive industry; Emhart Teknologies (68,300 square feet), a subsidiary of Black and Decker Corp. that designs and manufactures fastening and assembly technologies; Hersh Co. (50,371 square feet), a supplier of automotive racking systems and the recycling of plastic dunnage containers to Ford and Daimler Chrysler; and Hi-Tech Coatings Inc. (49,849 square feet), a developer of high-performance coatings used by the printing and packaging industries. Chesterfield Associates Limited Partnership sold the property. ...

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