The sale of 255 Rex Blvd., a 68,839-square-foot office property in Auburn Hills, Michigan has been successfully completed by Marcus & Millichap. The property was leased to Teijin Automotive and sold for $7.425 million.
John Godwin and Melissa Mann from Marcus & Millichap’s Detroit office were the investment specialists who had the exclusive listing to market the property on behalf of the seller. They also procured the buyer.
Teijin Automotive Technologies has been using this property as their corporate headquarters since 2014 with a corporate guarantee from Teijin Limited, a Japanese chemical, pharmaceutical, and information technology company. Recently they renewed their lease for another ten years.
Built in 1989 on a land area of 5.15 acres just off Interstate-75, this office space served as an ideal location for Teijin Automotive HQ.
Connect CRE – In MI: Sale Brokered by Marcus & Millichap for Teijin Automotive HQ
Marcus & Millichap recently brokered the sale of an impressive commercial building located at 255 Rex Blvd., Auburn Hills in Michigan state that spans over an area measuring approximately sixty-eight thousand eight hundred thirty-nine square feet (68 ,839 sq ft). This building is currently being leased out to renowned automotive giant ‘Tejin’ which is headquartered here ever since it was built back in year nineteen eighty nine (1989).
This deal worth seven million four hundred twenty-five thousand dollars ($7 .425M) was made possible through efforts put forth by John Godwin along with Melissa Mann who are both expert investment specialists working at one among many offices owned/operated under banner name ‘Marcus & Millchap’. These two professionals not only managed securing exclusive rights needed while marketing said real estate asset but also played pivotal roles when it came down towards finding suitable buyers interested enough into purchasing aforementioned piece(s) belonging solely unto original owner.
Teijin Automotive Technologies has been using this property as their corporate headquarters since 2014 with a corporate guarantee from Teijin Limited, a Japanese chemical, pharmaceutical and information technology company. Recently they renewed their lease for another ten years which further adds to its value proposition. This building is situated on five point one five acres (5 .15 acres) of land area and is conveniently located just off Interstate-75 making it an ideal location for any business looking to establish itself in the region.
This transaction was recently reported by Connect CRE – leading online platform catering towards commercial real estate industry news/updates!
