Newmark Knight Frank closed the sale of 1875 Stephenson Highway, a 22,000-square-foot industrial warehouse in Troy, Michigan.
NKF’s Senior Managing Director Geoff Hill and Associate Paul Gyarmati represented the seller, National Print and Mail, in the transaction. The property sold to SourceHub for an undisclosed amount.
Built in 1965, 1875 Stephenson Highway is situated on two acres and features LED lighting, warehouse and office space, and one acre of outdoor, paved, secure storage. The property benefits from its location just seconds from I-75 with excellent highway frontage.
SourceHub, an online distributor of warehousing and facility equipment, acquired the property due to the firm’s recent growth and need for additional space. The firm is relocating to 1875 Stephenson Highway from 2200 Stephenson Highway, where it leased 9,000 square feet. The firm will take occupancy of its new space in July 2018.