Michigan industrial deal tops $183 a square foot

Automotive tenant maintains long-term lease

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A California-based private equity investment group has paid $19 million for the Cooper Standard Automotive Global Fluid Systems headquarters in Auburn Hills, Mich. The 103,822-square-foot industrial building, sold by an unidentified Midwestern investor, is located at 2110 Executive Hills Court on a 9.7-acre lot. Constructed in 2002, the two-story property was remodeled and expanded in 2007 to suit the needs of the tenant, which, according to a press statement, is on a "long-term, triple-net lease in place with annual increases." ...