"He'll likely break ground within the next year and a half," says John Arthurs, vice president with Grubb & Ellis Co.'s Southfield office. Arthurs represented both the Scmidth trust and the seller, locally based Marie Varda and Linda M. Rothburn.
Arthurs tells GlobeSt.com that the buyer, whose headquarters building is currently on the market, needed a new and smaller storage/office building, but had some difficulty finding the right property for that purpose.
"He couldn't find an existing building that made sense," Arthurs explains. "All the buildings he considered were older, and would have cost too much to renovate." Ultimately, the buyer simply decided to start from scratch. "That's how it all got put together," Arthurs says. "The seller had the excess vacant land they didn't need any more, and the buyer needed a place to go."
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