SOUTHFIELD, MI- Steel Master Transfer, LLC, a Michigan-based supplier for the automotive and related industries, has just agreed to purchase 34,580 SF of light industrial and office space at 8018 Embury Rd. in Grand Blanc, a suburb of Flint. Although the final sell price was not disclosed, the building was originally listed for $1.1 million. Steel Master will relocate its headquarters from nearby Oxford Township.
“They were renting, but wanted to own and expand,” Paul Hoge of Signature Associates told GlobeSt.com. Hoge and Gary Stephens represented the seller, Embury Holdings, LLC. Clint Confer, also of Signature Associates, represented Steel Master. “Things are improving and suppliers are getting more business,” Hoge added.
While a great deal of press attention has been focused on newer industries in the state, such as advanced battery makers and wind energy, Hoge said manufacturing autos still drives the market. “No matter how much we try to diversify, it's still a fact that auto is what a lot of things are based on.”
Eventually, the prices for the state's industrial spaces will start to go up, but Hoge expects auto industry suppliers will continue to buy. “If someone's getting busy, they may start busting at the seams and outgrow the plant they're in.”
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Brian J. Rogal
Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.
