SAGINAW, MICH. — Grubb & Ellis has completed the sale of a 912,820-square-foot manufacturing facility located at 2328 E. Genesee Ave. in Saginaw. Approximately 682,000 square feet of the property is occupied by TRW Integrated Chassis Systems, which took over the space when its parent company, TRW Automotive, acquired the braking unit of the former tenant, Delphi, in 2008. The remainder of the property is vacant.
Chris Dowell and Geoff Hill of the Industrial Group of Grubb & Ellis, along with Patrick Shannon of the firm's Investment Group, represented both parties in the deal. The buyer is a California-based private investor that is entering the Michigan market for the first time. No details were made available about the seller. The acquisition price was also not disclosed.
Dowell has also been named exclusive leasing agent by the buyer for the remaining approximately 230,000 square feet of space.
— Coleman Wood