General Motors Acceptance Corp. occupies 60,030 sf of the center.The building also serves as the corporate headquarters of Delmia Corp., which occupies 42,900 sf. Delmia is a wholly owned subsidiary of Dassault Systemes SA, a provider of software applications and services. The average remaining term on the GMAC and Delmia leases is 6.5 years.
"This purchase is a perfect alignment with the Wells REIT's strategy to purchase class-A office and industrial properties leased long term to highly creditworthy tenants," says Wells CIO David Steinwedell.
The property is located in Detroit's Auburn Hills submarket, one of the strongest office markets in the area. It has immediate access to the new interchange at M-59 and I-75. The area is a popular location for corporate users and headquarters locations because of its proximity to the preferred residential areas in northern Detroit.
© Arc, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to TMSalesOperations@arc-network.com. For more information visit Asset & Logo Licensing.