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Visteon Receives $81M for HQ Sale-Leaseback

VAN BUREN TOWNSHIP, MI-The automotive supplier, which emerged from Chapter 11 bankruptcy in late 2010, has been working to grow since splitting from Ford in 2000.

By Robert Carr | Updated on April 18, 2012

VAN BUREN TOWNSHIP, MI-Visteon Corp., an automotive supplier, has sold its relatively new headquarters complex here to New York City-based Sovereign Partners LLC. The sale-leaseback deal for the Grace Lake Corporate Center closed for $81.1 million.

Visteon had owned the 287-acre office property, which it built here in 2004 as its new HQ to allow the supplier, formerly a Ford Motor Co. affiliate, to move out of Dearborn. Visteon has signed a 15-year lease to occupy a 527,000-square-foot office where its corporate staff and innovation center are located.

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