Colliers recently facilitated a successful acquisition loan of $76.725 million for Four Springs TEN31 Xchange, enabling them to purchase a 1.1-million-square-foot industrial building in Monroe, MI that is fully leased to Ford Motor Company on a long-term basis. The financing was sourced by EVP Jeremy Thornton, SVPs Nicole Sayers and Andrew Gibson, and VP Lauren Smyle.
The property is located at 14741 Laplaisance Rd., near the Interstate 75 corridor in Detroit Metro. It was originally developed as a build-to-suit warehouse and logistics facility for Ford. According to CEO Coby Johnson, this acquisition marks an important step for Four Springs as they continue to expand their portfolio with high-quality net-lease properties anchored by reputable tenants.
Thornton also commented on the positive market activity surrounding this transaction: “This loan closing is just one example of growth in the market right now,” he said optimistically.”We anticipate seeing more positive developments throughout the year.”
