NAI James E. Hanson on Tuesday said it negotiated the sale of a 10,400-square-foot industrial building in Sparta.
Hanson’s John Schilp represented the buyer, Timna LLC, and Harford Real Estate represented the seller, Harko Holdings LLC, in the transaction.
Located at 7 Aaron Way, the asset is a 10,400-square-foot industrial flex building situated on 1.89 acres in Sparta’s newest and most successful industrial development, White Lake Commercial Park. Boasting 21-foot clear ceiling height, four 14-foot overhead drive-in doors and no columns, the property is also situated in an economic development zone to provide ideal flexibility for future tenants.
Timna enlisted Hanson specifically to utilize its expertise in order to meet the needs of a 1031 requirement. With a deadline approaching, Schilp provided a variety of options with 7 Aaron Way being selected due to its location, presentation and multiuse potential. Timna has also retained Schilp to handle leasing for the property and help capitalize on the demand for quality industrial space in Sparta area.
“Finding our clients space that fits their needs is at the core of what we set out to accomplish,” said Schilp. “When a 1031 requirement is involved, it creates a need for a balancing act between swift action and intelligent decision-making. Striking that balance is paramount in these situations and our understanding of local markets helps to make that possible.”
The transaction also highlights Schilp’s continued role in the creation of the White Lake Commerce Park. Beginning in 2019, he was retained to facilitate the sale of the 12 lots making up the White Lake Commerce Park. With the sale of the last lot closing in 2019, Schilp has now brought several developers to the White Lake Commerce Center to construct owner-occupied and spec industrial buildings ranging in size from 10,000 to 40,000 square feet. In addition, Schilp’s work has brought several high-quality tenants to the completed buildings already open at the property.