Newmark has completed a 102,377-square-foot industrial lease with Trigo Quality Solutions, Inc. at 2430 E. Walton Blvd. in Auburn Hills, Michigan.
Newmark Executive Managing Director Geoff Hill and Associate Chris Hill represented the new owner and landlord, Frain Cooper Holdings, LLC, in the transaction.
The landlord purchased the 125,063-square-foot industrial building through a partial sale-leaseback with Norma Group. The Newmark team was able to secure a deal with Trigo Quality Solutions to bring the total building occupancy to 100% upon closing.
Anthony Rubino of Pilot Property Group represented the tenant, Trigo Quality Solutions, in the transaction. The company will use the space for sequence and warehousing, to fulfill client needs. Norma Group will remain in the building in 22,686 square feet of office and lab space.
According to Newmark Research, the Metro Detroit industrial market vacancy rate fell 20 basis points to 4.0% during the fourth quarter of 2021 as just over 2.8 million square feet was absorbed, for a total of 7.5 million square feet of net absorption in 2021, a level not seen since 2017.
