Industrial Renaissance
The multi-tenant deal brokered by Colliers in Hamilton’s historic Siemen’s Building is welcome news after the closure and exodus of high-profile manufacturers these past few years. Four new tenants--manufacturing companies Chapel Steel, AZZ, Alstom, and Triple Crown Enterprises--leased 223k SF and join landlord and lead tenant Empire Steel on the property. We spoke to the guy who quarterbacked the deals, Colliers International’s John MacNamara.
The building has different bays with similar characteristics, which made “fitting the puzzle together fairly easy.” The challenges were in the unique characteristics with each tenant’s shipping needs. One tenant has steady product flow and needs to drive through the building and go out the other side. (Backing up is for wimps.) Another tenant ships infrequently, but still required an oversized door to send out completed product. “Modifications were made to accommodate both tenants,” John says. Empire even gave up some of their own office space to accommodate a tenant. “Everyone is proud of what the building transformed into,” he says.
