Crane Co. sells Michigan complex to developer

Property changes hands after period of non-use

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Binswanger on Thursday announced it has negotiated the sale of the 327,048-square-foot Crane Co. facility in Bay City, Mich. The value of the transaction was not disclosed. The property is located at 4675 W. Wilder Road. Stamford, Conn.-based Crane Co., which makes industrial products for the power generation, aviation, construction and chemical industries, sold the property after ceasing operations at the Bay City facility nearly five years ago. Local real estate developer Dore Real Estate LLC purchased the property and plans to lease the crane- and rail-served facility, which is suitable for a variety of users and offers convenient access to port facilities on the Saginaw River, I-75 and the Detroit Metro Airport. Philadelphia-based Binswanger is an international, full-service real estate organization operating worldwide. ...