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Macomb County Becoming Industrial Hot Spot

FRASER, MI-Macomb County is the hot market for industrial deals, two brokerage firms agree. Already, Comerica Bank has a deal in the works with Canadian automotive supplier Magna International for Citation Tool's former 264,000-sf building.

By Dan Heaton | Updated on January 24, 2005

FRASER, MI-Macomb County was a relatively bright spot on the local industrial real estate market in 2004, according to two recently released year-end reports by commercial brokerage houses. Friedman Real Estate Group calls Macomb County the region’s “most vibrant (industrial) submarket” while Grubb & Ellis says the industrial market in Macomb Township added 122,000 sf of industrial space in 2004.

Occupancy in Macomb County’s industrial buildings increased in 2004 from 87.71% at the end of 2003 to 89.30%, Friedman reports. The report only considers buildings of at least 5,000 sf.

The local industrial market could see a big start to 2005. Comerica Bank, which owns the 264,000-sf former Citation Tool building on 14 Mile Road, near Groesbeck, in Fraser, has a contract to sell or lease that building. Canadian automotive supplier Magna International has applied for industrial tax credits to move some operations into the building, but has made no formal announcement on exactly what operations will take place there. In paperwork filed with the city, however, Magna forecasts some 200 jobs will be located at the site within the next five years.

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