Automotive supplier Continental Teves engaged Colliers International to facilitate development of a new office/research/high-tech facility from the ground up in suburban Detroit. The client needed a build-to-suit 220,000 sq. ft. complex on 20-30 acres in northern Oakland County, and would consider leasing or purchasing. CHALLENGE Continental Teves wanted to occupy their new facility within 18 months of initiating the site search -- a significant challenge, given the limited amount of vacant land available in the area targeted by the client. SERVICES Colliers International quickly conducted a complete market survey and analysis of all available land in north Oakland County. They located a 28 acre site in Auburn Hills that best fit Continental Teves’ requirements, and began negotiating with the developer who owned it. SOLUTION After a thorough financial analysis, Colliers structured a deal between the land’s owner/developer, an outside investor and Continental Teves that met all of the client’s financial, real estate and scheduling benchmarks. The facility was built to Continental Teves’ specifications and occupied within the company’s required time frame.
|