X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

A partnership of Troy-based Salsberry Associates and New York-based Steinhardt Group Inc., called Huron Properties LLC, recently purchased an 800,000-sf portfolio of metropolitan Detroit tech parks and vacant land from ProLogis for $40 million.ProLogis, a real estate investment trust in Denver, sold the properties to the new firm .

Robert Salsberry, principal in Salsberry, says the 98-acre Huron Commerce Center near Detroit Metropolitan Airport was the desired property. The tech park bordering the hot I-275 industrial corridor was created and owned by Prudential, but was abandoned prior to final approval, says Salsberry, adding that the company wants to finish the job.

“We’re looking at building 21 new build-to-suits on the property,” he notes. Construction will begin next spring. The park currently has three buildings.The rest of the various tech parks, located in cities such as Troy, Southfield and Farmington Hills, will be run to finance development at Huron Commerce Center, he told GlobeSt.com. Every building is about 92% leased, according to Salsberry.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper

GlobeSt. NET LEASE Spring 2021Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information
 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.