Industrial V Michigan

CBRE closes 124,000-square-foot lease in Detroit market

CBRE closes 124,000-square-foot lease in Detroit market,ph01

CBRE recently represented ownership in a 124,564-square-foot lease to Beaumont Health at 41965 Ecorse Road in Belleville, Michigan, in the Detroit market.

Peter Rogers and Randall Allman, first vice presidents with CBRE, represented the owner, Brookwood Capital Partners in the transaction. Beaumont Health was represented by Insite Commercial.

The lease brings the property to 100 percent occupancy. Located near the Detroit Metro Airport with immediate access to I-275 and I-94, the property offers high-tech manufacturing and warehouse features. ,

According to CBRE, the Detroit industrial market has been on a historic run and lease rates hit a new high in the first quarter at $6.69 per sq. ft. NNN. The vacancy rate also remains very low, at only 2.1 percent.

Beaumont Health is Michigan’s largest health care system, with eight hospitals, 145 outpatient locations across the state.