Ashley Capital has experienced a surge in leasing activity at the Brownstown Business Center after signing four separate leases which total over 888,000 SF. The transactions include a 10-year lease with MTU Detroit Diesel (“MTU”) for approximately 410,000 SF, a 1-year lease with Cabot Street Real Estate, LLC (“Cabot”) for approximately 364,000 SF, a 3-year lease with Federated Group Services, LLC (“Federated”) for approximately 61,000 SF, and a 3-year lease with Marketing and Industrial Solutions Corporation (“MISC”) for approximately 53,000 SF.
MTU Detroit Diesel is one of the world’s leading providers of diesel engine and propulsion systems. The company was formed out a partnership between Detroit Diesel and MTU in 1994 in order to develop the next generation of heavy-duty diesel engines. Today, MTU is responsible for the sales and service of diesel engines and systems throughout North America.
Cabot Street Real Estate, LLC, a wholly owned subsidiary of Goldman Sachs, will take occupancy of space in Building #1. From their suite, Cabot will store aluminum ingots for the London Metal Exchange.
Federated is a premier sales and marketing company which provides private label products to the grocery, foodservice, drug and convenience store industry. Federated has expertise in supply chain consolidation and in-store marketing services. They will occupy Building #7 at the Brownstown Business Center.
Formed in 2004, MISC provides sequencing, sorting, and light manufacturing services for the automotive industry. MISC will occupy Building #8 at the Brownstown Business Center. This location will serve as a sequencing facility for a contract with Lear Corporation to produce automobile seat parts.
Ashley Capital was represented by Grubb & Ellis is all four lease transactions. CB Richard Ellis represented MTU, Federated and MISC, and Signature Associates represented Cabot.