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JACKSON, MI-In what might be the largest real estate transaction in the Jackson area in several years, the former Jacobson’s Stores headquarters now has a new owner. Dawn Food Products closed last week on the purchase of the 238,127-sf building at 333 Sargent Rd. in Leoni Township, just outside Jackson.

The purchase price was not disclosed, but the property was listed at $7.9 million, Jim Harrigan, the broker on the deal, tells GlobeSt.com. “In terms of square footage, this was perhaps the premium facility in Jackson,” says Harrigan, a broker at Signature Associates-Oncor International.

Harrigan says Dawn, a manufacturer and distributor of high-quality baking supplies, will use the facility for its headquarters and some distribution operations. He adds Dawn will consolidate from several locations around the Jackson area to its new headquarters. The status of the buildings Dawn will vacate has not been announced.

Jacobson’s was an upscale retailer that went out of business via bankruptcy in March 2003. Harrigan says after the property came out of bankruptcy proceedings, it went on the market in fall of 2003 under the ownership of Comerica Bank. “I understand when Jacobson’s had it built in 1989, they spent about $18 million on it. So, it is still a relatively young building,” Harrigan says.

In addition to Harrigan, Signature brokers Steve Gordon, Jay Chavey, and Mike Mikesell worked on the deal.

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