Visteon sells corporate center in Wayne County for $81.1 million
Visteon Corp., a Michigan-based auto parts supplier, announced Wednesday that a privately held real estate investment firm purchased its Grace Lake Corporate Center property in Van Buren Township.
The price tag: $81.1 million.
Van Buren Township's Grace Lake Corporate Center, seen here in December 2009.
AnnArbor.com file photo
The complex is situated on 287-acres and has 850,000 square feet in office facilities.
The buyer — real estate investment firm Sovereign Partners LLC — will now manage the property.
Other tenants at the Grace Lake Corporate Center include Dana Holding Corp. and General Electric’s 200,000-square-foot Advanced Manufacturing & Software Technology Center, which the company opened in 2009.
Lizzy Alfs is a business reporter for AnnArbor.com. Reach her at 734-623-2584 or email her at lizzyalfs@annarbor.com. Follow her on Twitter at http://twitter.com/lizzyalfs.
Comments
BobbyJohn
Thu, Apr 19, 2012 : 5:03 p.m.
Lizzy, what did the building cost them when they built it?
braggslaw
Wed, Apr 18, 2012 : 9:42 p.m.
A white elephant created by a general counsel who thought she was a genious...
JJ
Thu, Apr 19, 2012 : 1:43 p.m.
Sly...as a fox.
The Black Stallion3
Wed, Apr 18, 2012 : 8:43 p.m.
I wonder if they plan on paying their debt to the Van Buren Township? Or are they just going to let the tax payers take care of that?
63Townie
Wed, Apr 18, 2012 : 7:34 p.m.
Visteon rationalized the construction of a new corporate campus by saying that leasing a property was too expensive. Now after thousands of jobs lost and golden parachutes for top executives, Visteon is leasing property again.
David Paris
Wed, Apr 18, 2012 : 8:33 p.m.
Also, I believe that campus was built while Visteon was still a Ford division, and was intended to enhance the salability of the division.