ROSEVILLE, MI-Global Automotive Systems has signed a lease for the 195,355-sf Hofley Manufacturing facility at 15500 12 Mile Rd. It recently acquired Fraser-based Jacobs Industries from bankruptcy and is consolidating seven former Jacobs facilities at the new location, where it will produce light-metal stamping and roll-formed metal automotive components.
Jack Coury and Bob Pagano, SVPs, and Mike Davis, VP in the Detroit industrial group of Grubb & Ellis, represented Global and the building owner. Hofley is vacating the building following the auction of its equipment on Oct. 24. The facility was constructed in three phases between 1959 and 1993.
The aggregate value of the lease is undisclosed. But Coury tells GlobeSt.com the average asking rent for this type of property in this northeast suburban Detroit submarket is between $4 per sf and $5 per sf. "The Macomb County industrial leasing market has been flat as the manufacturing sector still attempts to recover," he says. "This is among the largest industrial transactions in the county this year, and it's evidence that there remains a commitment to manufacture auto parts here."
Farmington Hills-based Global Automotive operates more than 10 plants in Michigan, Ohio, Kentucky, Canada and Mexico and generates annual sales of $350 million. It is the automotive affiliate of Patriarch Partners LLC, which has headquarters in New York City and Charlotte, NC.
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