Retail has been springing up in large pockets along the major highways, and now the industrial market is following suit.
For example, a group of investors have formed a company called 26 Mile Industrial and bought an 80-acre parcel along 26 Mile Road in Chesterfield Township. The property is two miles west of I-94, and five miles north of the refurbished east-west M-59 corridor.
The company wants to use the land to create industrial and retail facilities, says Andrew Boncore, the broker from Southfield-based Signature Associates that arranged the land transfer.
He says the company could build about $55 million worth of retail and industrial space -- 125,000 sf of retail and 700,000 sf of industrial -- on the property. The company will present its plans for construction to the township board of trustees sometime this winter, Boncore says.He adds the area needs new industrial blood.
"As some of the developments to the south get older, this project will see absorption from companies wanting to get into new space," Boncore tells GlobeSt.com.
The area is perfect, because it's zoned for mixed-use facilities, and is parallel to the industrial corridors of Gratiot and Groesbeck, he notes.
"It's a growing area. We were lucky to find a piece of property big enough to accommodate large users," Boncore says.
There has been a few proposals that have already come in from futuretenants, the broker says. He would not name the companies, but reveals they are automotive manufacturing firms.
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