Signature Associates in Southfield has announced the sale of a large industrial building located at 3600 Giddings Road in Auburn Hills to a partnership between Foundation Capital Partners and Wheelock Street Capital.
Terms of the deal were not disclosed. Joe Hamway and Greg Hudas of Signature Associates represented the partnership in the purchase of the building and are now marketing the property for lease for the first time.
The partnership acquired the building as an investment with plans to reposition the property and bring a major corporate tenant to the I-75 corridor. Occupancy will be available in May 2022.
“We are excited for the opportunity to bring this Class A mission-critical logistics facility to the market for the first time,” says Nirmal Roy, managing partner at Foundation Capital Partners.
The 443,340-square-foot building offers I-75 frontage, 30-foot clearance, 375 parking spaces, and is situated on 28 acres.
“It truly is a first-class corporate headquarters facility,” says Hamway, vice president and a principal of Signature Associates. “The property includes high-end corporate office/research components, a state-of-the-art paint room, as well as warehouse and distribution space, and is perfect for anyone looking for a property with superior amenities you won’t find anywhere else in the area.”
Adds Hudas, vice president and a principal of Signature Associates: “We are proud to work with Foundation Capital Partners and look forward to leasing up the building.”
For leasing information or to arrange a tour, contact Hamway or Hudas at 248-948-9000.
Signature Associates, which has eight offices across the Midwest and is the region’s leading commercial real estate firm, provides a selection of services, including brokerage, tenant representation, investment sales, property/asset management, advisory services, consulting, and market research.