Industrial lease 'a huge win' for Michigan market

Grubb & Ellis Co. negotiated the lease of 195,355 square feet of industrial space in Roseville, Mich., to Global Automotive Systems.

The value of the transaction was not disclosed.

Global Automotive Systems will utilize the former Hofley Manufacturing facility, which is located at 15500 Twelve Mile Road, for light metal stamping and roll formed metal automotive components. The company recently acquired Fraser, Mich.-based Jacobs Industries out of bankruptcy and is consolidating seven former Jacobs facilities into the Hofley building.

"The Macomb County industrial leasing market has been flat as the manufacturing sector still attempts to recover," said Jack Coury, senior vice president, Grubb & Ellis' Industrial Group. "The fact that this is a long-term lease shows that there remains a commitment to manufacture automotive parts in Macomb County. It's a huge win for the whole market."

Los Angeles-based Grubb & Ellis Co. is a full-service commercial real estate organization operating worldwide.

All rights reserved. This content may not be used or reproduced in any manner whatsoever, in part or in whole, without written permission of Inman News. Use of this content without permission is a violation of federal copyright law.