Apparel Reseller Signs Lease in Jonesville, MI
SeedAmerica welcomes new tenant to Jonesville, MI property.
Perrysburg, OH, June 01, 2008 --(PR.com)-- SeedAmerica Asset Management Division president Chris Zimmerman today announced that Charlie Schindler has signed a lease for 3,150 square feet at 117 West St. in Jonesville, Michigan.
SeedAmerica acquired the 65,000 square foot building in September 2007 through a 561 Exchange transfer.
Schindler is planning to use the space as manufacturing and warehousing site, according to Zimmerman. They are scheduled to occupy the property for one year.
“The execution of this lease agreement brings welcomed revenue to Jonesville,” said Zimmerman. “We are eager to begin collaborating with them on the development this site into a facility that will best suit their needs.”
Schindler is a distributor of close-out clothing and apparel, for resale and will employee approximately 12 people in Jonesville facility. One other business occupies 3,241 square feet of space in this facility.
About the 561 Exchange
The 561 Exchange is an IRS sanctioned program found in IRS Publication 561. This publication defines the rules and methods of valuing a property in exchange for tax deductions or tax credits, which is equivalent to cash for owners with a tax liability.
ConAgra Foods, FMC Technologies, Essex Electric, the Pritzker family (owner of the Hyatt Hotels), AAF McQuay, Chapelthorpe Industries, Murray Corporation and Kaydon Corporation are just some of the companies who have completed property transfers using the 561 Exchange through SeedAmerica.
About SeedAmerica
SeedAmerica is a national real estate endowment fund, focused on acquiring and managing commercial real estate assets. SeedAmerica is a 501(c)3 organization that utilizes IRS Publication 561 to provide businesses a fast, safe and profitable solution to hard-to-move surplus property. SeedAmerica has more than two million square feet of commercial real estate space, has helped revitalize communities and assisted entrepreneurs in moving into affordable real estate. For more information on SeedAmerica, visit our website at www.seedamerica.com.
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SeedAmerica acquired the 65,000 square foot building in September 2007 through a 561 Exchange transfer.
Schindler is planning to use the space as manufacturing and warehousing site, according to Zimmerman. They are scheduled to occupy the property for one year.
“The execution of this lease agreement brings welcomed revenue to Jonesville,” said Zimmerman. “We are eager to begin collaborating with them on the development this site into a facility that will best suit their needs.”
Schindler is a distributor of close-out clothing and apparel, for resale and will employee approximately 12 people in Jonesville facility. One other business occupies 3,241 square feet of space in this facility.
About the 561 Exchange
The 561 Exchange is an IRS sanctioned program found in IRS Publication 561. This publication defines the rules and methods of valuing a property in exchange for tax deductions or tax credits, which is equivalent to cash for owners with a tax liability.
ConAgra Foods, FMC Technologies, Essex Electric, the Pritzker family (owner of the Hyatt Hotels), AAF McQuay, Chapelthorpe Industries, Murray Corporation and Kaydon Corporation are just some of the companies who have completed property transfers using the 561 Exchange through SeedAmerica.
About SeedAmerica
SeedAmerica is a national real estate endowment fund, focused on acquiring and managing commercial real estate assets. SeedAmerica is a 501(c)3 organization that utilizes IRS Publication 561 to provide businesses a fast, safe and profitable solution to hard-to-move surplus property. SeedAmerica has more than two million square feet of commercial real estate space, has helped revitalize communities and assisted entrepreneurs in moving into affordable real estate. For more information on SeedAmerica, visit our website at www.seedamerica.com.
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Contact
SeedAmerica
Karen Buckley Washington
678-762-1737
www.seedamerica.com
Karen Buckley Washington
678-762-1737
www.seedamerica.com
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