- people on the move
Finishing company leases half of industrial building
A local metal and plastic finishing company is expanding its operation.
Grand Rapids-based Spectrum Industries has leased half of a 95,035-square-foot building in Kentwood, at 5265 Kellogg Woods Dr. SE, according to Colliers West Michigan today.
Spectrum Industries was looking for a location for more manufacturing and warehouse space, according to President Kevin Bassett.
The company applies functional and decorative finishes to metal and plastic components, including its electrodeposition division, which applies protective coating to more than one million parts a day.
Spectrum Industries utilizes six robots to perform decorative finishes and specializes in hydrographics and high-end finishes, such as piano black, clear coat, metallic and other paints.
The lease was signed immediately after the building was sold this month by an undisclosed seller to an undisclosed buyer, according to Colliers West Michigan.
The building had been listed since Feb. 17 by Colliers.
Colliers represented both the buyer and seller of the building, with EVP John Kuiper representing the investor and Spectrum Industries and industrial brokers Matt Abraham and Trent Wieringa representing the seller.
The investor and Colliers are working to secure additional tenants for the building, which was built in 1970 and sits on a 6.21-acre site, less than a mile east of U.S. 131.
The site’s size can accommodate a future expansion of the building.
“Supply is low across West Michigan’s industrial real estate market, so clients and users are ready to jump when the opportunities exist,” Wieringa said. “This transaction is an example of how tight the West Michigan industrial market truly is — especially with the sale occurring the day before the tenant’s lease ended.”