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Macomb County Industrial Market Shows Hopeful Signs

DETROIT-With significant investments planned by industrial users such as Faurecia North America's 91,500-sf interior system plant in Sterling Heights, Grubb & Ellis sees reason for optimism despite vacancy rising to 10%.

By Dan Heaton | Updated on May 23, 2005

DETROIT-A commercial real estate brokerage is expected some good news on the industrial development front in Macomb County in the second half of 2005. Despite the rising vacancy rate, the Macomb County submarket is poised to receive some significant investments within the year, Grubb & Ellis writes in its quarterly review of the Detroit region’s industrial property market.

The vacancy rate in Macomb County’s industrial buildings rose 110 basis points from the previous quarter to 10% during the first quarter. Some 555,000 sf of vacant space was added to the Macomb County market in the first quarter, led by Utica Enterprises’ departure from its 175,000-sf building on 23 Mile Rd. in Shelby Township.

Grubb & Ellis sees cause for optimism, however. As previously reported, Faurecia North America contracted to build a 91,500-sf interior system plant in Sterling Heights near 18 Mile and Mound Road. “We expect additional investment announcements to follow in the upcoming months,” Grubb & Ellis says.

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