Newmark is pleased to announce that Senior Managing Director Mike Davidson in the firm’s Detroit office recently completed a 90,000-square-foot industrial build-to-suit sale at 100 Peyerk Court in Romeo, Michigan. Davidson represented the buyer, Lanzen, Inc., as well as the seller, Kemp and Peyerk, LLC, in the transaction.
Lanzen, Inc., a defense contractor, hired Davidson to assist with its site selection analysis in finding a more suitable location for its headquarters due to its growing business. Ultimately, a build-to-suit at 100 Peyerk Court was selected due to its location, the availability of tax abatement, the builder and available square footage. Lanzen, Inc. will relocate to 100 Peyerk Court in 2018 from its current location at 30980 Groesbeck Hwy in Roseville, Michigan, where it has occupied 34,000 square feet since 1966. Lanzen, Inc. also has manufacturing facilities in Mancelona and Petosky, which it will continue to occupy.
“In September of 2012, Lanzen told me the firm was going to have to modernize the Roseville Plant with new equipment and move to a bigger building in the next few years,” said Davidson. “I stayed in contact with Lanzen and in February 2017 we started researching and looking at potential build-to-suit sites. It’s been a journey, but I think the end result is going to be a fantastic solution for the firm’s growing business.”
Tom Kemp of Kemp and Peyerk, LLC commented, “Mike Davidson of Newmark introduced me to Terry Lanzen in 2014. We worked together for several years looking at different building designs. Mike was instrumental in helping us understand Lanzen’s business model so we could design the perfect building for its new headquarters.”
The heavy manufacturing build-to-suit property at 100 Peyerk Court will feature overhead cranes, high ceilings, heavy power and offer room for expansion. Kemp Building & Development began construction in October 2017 with completion scheduled for mid-summer 2018.
Newmark is one of the world’s leading commercial real estate advisory firms. Together with London-based partner Knight Frank and independently-owned offices, Newmark’s 15,000 professionals operate from more than 400 offices in established and emerging property markets on six continents.
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