Development is just beginning at the site, with a new road just finished in December, says Paul Hoge, an associate broker with Signature Associates of Southfield. "This is one of the only available lots of large square footage left in Sterling Heights," he says. The city is being built up with light industrial and residential development. Many automotive manufacturers and suppliers, including the General Motors Technical Center, are located in Sterling Heights.
"We'll be able to use a lot of lots in this development. To get this land, Kemp bought an old farm where the family had owned the property for 70 years," Hoge notes The land is zoned for industrial use.
The land could hold 500,000 sf, at about $32 million total development. The company plans three speculative buildings between 24,000 to more than 45,000-sf for now, and later plans for up to a dozen buildings. Construction should take about two years.
Light industrial companies have expressed an interest in the property. "We've had a couple of quotes, but nobody signed up yet. We're doing lease rates on a case-by-case basis," he says.
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