Oxford Cos. Arranges MI Flex Building Deal
- Mar 01, 2019
Oxford Commercial, a division of Oxford Cos., has arranged the sale of a 7,500 square-foot flex building in Brighton, Mich. According to PropertyShark, the former owner is Grand Venture Associates, an Oxford-sponsored investment partnership, which bought the industrial asset in 2007 as part of a portfolio of flex buildings in Washtenaw and Livingston counties. Oxford Commercial Associate Director Alex Perlman represented the seller in the deal.
Located at 1260 Rickett Road, the property is a few miles from the city’s downtown and can be reached via the junction between Interstate 96 and State Road 23. The corporate office of U.S. Mattress is across the street and Green Oak Village Place lies approximately 2 miles away. Built in 1987, the asset is in a commercial area that is home to several industrial facilities and corporate offices. At the time of the transaction, 1260 Rickett Road was fully occupied, with RAND Construction and Mutual Electric as tenants.
According to a recent CBRE report, metro Detroit’s industrial market fundamentals have been positive throughout 2018, with record lease rates and very strong absorption. Late last year, Gladstone Commercial Corp. acquired two industrial buildings in the Detroit submarkets of Auburn Hills and Sterling Heights.
Image courtesy of Oxford Cos.