4-building portfolio sold in Michigan

Majority of space occupied by auto industry suppliers

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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. ...