Michigan Industrial Real Estate Tenants Update @ Tri-Commerce Center
Ashley Capital’s recently completed Tri-County Commerce Center Building 3 has a 916,000 square foot industrial facility and is 100% leased with two tenants. Building 3 is part of the larger Tri-County Commerce Center, a 2.1MM square foot fully occupied industrial park in Hazel Park, MI.
1) Avancez LLC – General Motors Co. Supplier
General Motors Co. supplier Avancez LLC inked a deal to occupy 400,000 square feet of space at Tri-County Commerce Center 3. This will bring 240 new jobs to the area. Regarding this new tenant deal, Kevin Hegg, a VP of Ashley Capital, said “Honestly, we’re running out of space. It’s indicative of how incredibly hot of a market it is.”
Investment for Avancez’s plant will be around $50 million total. The Michigan Department of Transportation announced that it would provide $1.4 million in road improvements and accessibility near the plant in addition to the nearly $1 million being contributed by Avancez.
Avancez signed a 10-year lease at the Michigan industrial complex immediately following the 10-year contract with GM to produce assembled modules for Factory Zero. Avancez specializes in “just in time” manufacturing, suspension modules, sequencing, as well as tire and wheel assembly.
2) Mayville Engineering Co.
Wisconsin-based Mayville Engineering Co is also going to be a tenant in Tri-County Commerce Center 3. It recently announced the signing of a 10-year lease for 450,000 square feet of industrial space. Mayville Engineering Co plans to invest around $45 million and will hire 390 employees at the Hazel Park plant.
Mayville Engineering’s plant at Tri-County Commerce Center is expected to serve as a space for welding, tube bending, laser cutting, painting and electrocoating operations. Mayville provides the following services: prototyping and tooling, fabrication, coating, assembly and aftermarket components for commercial vehicles, construction, powersports, agriculture, and military customers.
“After reviewing many alternative [industrial real estate] sites and states, we selected Hazel park… due to the availability of a highly skilled manufacturing workforce in the area to support existing demand and potential future market growth opportunities,” said Mayville COO Rand Stille.