Mason L. Capitani, with L. Mason Capitani, says Valeo acquired the building when it took over ITT Automotive. "The building is much larger than they needed. It's a French company, that size building is not their style, we're moving them to a 120,000-sf building," Capitani says. He is representing Valeo on its search for a new building, and tells GlobeSt.com that the company is close to finalizing the deal. "They're moving into the area," he says, though he refused to divulge the location. Binswanger America LLC is working with Capitani on the new property search.

He says Delphi wanted to use the Valeo property, but wanted to lease, so they brought in Metcalf. The building, built in 1989 and renovated in 1996, is four stories tall and has executive offices as well as 90,000 sf of lab space. The auto supplier is already moving into part of the building, while Valeo is slowing moving out, Capitani says.

Delphi signed a long-term lease, Capitani says, an interesting move in one of Detroit's most prosperous, but volatile areas for office space, due in part to Cereberus' major investment into Chrysler. "Auburn Hills is one of the strongest markets," Capitani says. "However, there are a few prospective tenants that are a little hesitant to sign leases, they want to see how things shake out."