An industrial property in Sparta’s White Lake Commerce Park changed hands after being identified as the right fit to complete a 1031 requirement for a client of NAI James E. Hanson.
Senior Vice President John Schilp represented Timna LLC, the buyer, in the purchase of a 10,400-square-foot building located at 7 Aaron Way in the White Lake Commerce Park, the commercial real estate company announced May 17.
Financial terms of the transaction were not disclosed. Harford Real Estate represented the seller, Harko Holdings LLC.
According to NAI Hanson, with a deadline approaching, Timna LLC selected the property from a slate of options offered up by Schilp for its location, presentation and multi-use potential. Located on 1.89 acres, 7 Aaron Way offers 21-foot clear ceiling height; four, 14-foot overhead drive-indoors; and no columns.
Schilp was also retained by the buyer to handle leasing for the property, the firm said, to help capitalize on demand for quality industrial space in the area. According to NAI Hanson, Schilp is already responsible for bringing several high-quality tenants to completed and opened buildings at the park.
His work at the complex dates to 2019, when he was retained to facilitate the sale of 12 lots, which now make up the White Lake Commerce Park. Now, NAI Hanson said he has brought several developers to the complex to construct owner-occupied and spec buildings that range from 10,000 square feet to 40,000 square feet. Schilp previously negotiated the sale of the spec building at 7 Aaron Way in May 2020.i