The Mast Street Industrial Project in Morgan Hill is finished, and tenants are being sought to fill the 30,100 square foot “industrial condo.”
The rent of $1.17 per square foot, along with the flexibility offered by the building, may provide a solution for businesses in need of expansion, or a place to get started for new enterprises, said city officials.
“We call it an industrial condo because of the small unit sizes; the units can be tied together, which allows for greater flexibility,” said Morgan Hill Economic Development Coordinator John Lang.
The Mast Street Industrial Project is broken up into smaller, 1,000 to 2,000 square foot spaces. The spaces are designed to be used as either offices or industrial space. Further adding to the building’s versatility, high ceilings and a dock entrance offer small manufacturers the space for taller pieces of equipment.
“It just came on the market, and it’s the first such building to come to Morgan Hill in recent years,” said Lang. “The space appears to appeal to distilleries and breweries, given the high ceilings.”
The estimated value of the building is $2.2 million, according to city staff.
Owner Mike Rauschnot began seeking permits for 155 Mast Street in October 2016, and the building was approved for occupancy in January 2018.
