-- Multiple tenant deal brokered by Colliers International signals industrial activity renaissance in steel city --
Hamilton, March 6, 2014 – The Siemens Building on Milton Avenue, a well-known local landmark, was abuzz yesterday with the formal introduction of four new industrial tenants that chose this location as their new home. The four advanced manufacturing companies joining current lead tenant Empire Steel are Chapel Steel, AZZ, Alstom and Triple Crown Enterprises.
The multiple tenant deal, brokered by Colliers International, marks an upswing of industrial activity in Hamilton, which experienced the closure and exodus of many high-profile manufacturers in past years. The Siemens Building’s new tenants are leasing approximately 223,000 square feet of the property; the current landlord and tenant, Empire Steel, occupies 70,000 square feet.
“Hamilton takes a hit when businesses such as the one on 20 Myler Street move to the U.S.,” says John MacNamara, senior sales representative with Colliers International who led the new tenant deals. “However, in one year’s time, three-quarters of these vacancies have been occupied by a handful of companies. The recent news is of momentous importance to the hard-working citizens of this great city as it proves there is a strong demand for large companies to relocate their business and investments in Hamilton.”
The Siemens Building is unique in many aspects, making it an ideal location for industrial tenants. The building can accommodate heavy cranes, rail shipping and heavy power, and offers tenants the flexibility to customize their floor plate to suit specific needs. Additionally, some of the property’s systems, including heating and lighting, have been undergoing a massive renovation. Additional features include a drive-through in the main building, which allows for a faster loading/unloading process. Several overhead doors have also been converted to oversized doors to accommodate wide-size product shipments.