"The first development should be finished by spring, and another identical building will be started in the summer," he says. The price for the complex is about $20 million. It's the company's second entry into the market.
"We came out four years ago for a development for Advo Co. and began looking for additional land," Blum notes. Opus wanted land in Van Buren, but a moratorium on new development was implemented. The company finally received site plan approval in July.Blum says the company is talking to a few prospects right now for the facility. "We hope to rent the space in the $5 to $5.25 per square foot range, triple net," he says. The company is also scouring the Detroit area for more developable land for more projects.
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