Bedrock grows industrial portfolio with acquisition of former Sakthi industrial campus

• Detroit-based company to add more than 618,000 sq. ft. and 10 acres of developable land to its growing footprint
• Industrial acquisition marks real estate developer’s largest development outside of Detroit’s Central Business District
• Acquisition expected to strengthen industrial activity within the city, and add hundreds of local jobs

DETROIT, MI – Bedrock today announced that it has acquired the former Sakthi Industrial Campus located along West Fort Street, just west of downtown Detroit, from Friedman Real Estate. The acquisition adds more than 618,000 sq. ft. of industrial real estate and 10.39 acres of developable land to Bedrock’s expanding downtown footprint.

“Acquiring this property provides us with a rare opportunity to capitalize on the growing demand for industrial space in Detroit,” said Sam Hamburger, VP of Acquisitions and Leasing at Bedrock. “By investing capital into this industrial complex, we believe that Bedrock will be well positioned to strengthen the surrounding neighborhoods by delivering a site that will create local jobs and serve as a catalyst for broad economic development efforts in the City of Detroit.”

The nearly 37-acre acquisition includes approximately 529,000 sq. ft. of industrial and manufacturing space, 89,000 sq. ft. of office and flex space, along with more than 10 acres of developable land. The property is strategically located just four miles west of downtown Detroit, adjacent and to the north of the Norfolk Southern Rail Line, near the future Gordie Howe International Bridge U.S. Port of Entry.

“Given its unique location, the property offers us an opportunity to provide functional warehouse, distribution, and manufacturing space that is both close to downtown Detroit and attractive to regional and national companies that serve an international clientele,” Hamburger continued.

The acquisition will allow Bedrock to quickly and effectively bring industrial buildings to market that are equipped to meet the evolving demands of today’s industrial users, while reinvigorating industrial activity in the City of Detroit which has already seen tremendous interest from major retailers and tech firms over the last few years.

“This development will effectively bridge the gap between the strong demand for, and lack of suitable industrial space in the city,” said Lawrence McLaughlin, Chief Development Officer at Bedrock. “We are excited to work with, and attract, new manufacturers and industrial users to the city.”

The Campus currently hosts one tenant, MOBIS, an automotive parts supplier for Fiat Chrysler Automotive and Hyundai.

The deal was facilitated by Kevin George, Senior Vice President of Brokerage Services and Jared Friedman, Director of Opportunities at Friedman in partnership with court appointed receiver Kevin English of Lark Advisors and counsel for the Receiver, the Dragich Law Firm.

“Having the privilege of working with the Bedrock team to facilitate the sale of this portfolio has been a rewarding experience,” said Jared Friedman, Director of Opportunities at Friedman Real Estate. “We’re excited to complete a deal of this size in the Detroit market and see what the future holds for the area.”

Financial figures were not disclosed.




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