Faurecia Plans New HQ in Auburn Hills; Dan Gilbert Snags Another Downtown Building
- Mar 27, 2013
Faurecia North America, Inc., the fifth largest automotive parts manufacturer in the world, has announced plans to expand its presence in the Detroit area by opening a new headquarters facility and technical center in Auburn Hills, MI.
Currently headquartered in Troy, MI, the company is controlled by the Nanterre, France-based Faurecia Group and is also the main shareholder in the many companies related to the Peugeot Group.
According to Crain’s Detroit Business, Faurecia is planning to move around 700 people, including current employees and some new hires, to the new Auburn Hills headquarters which is estimated to open in the first quarter of 2014. Faurecia’s other operating facilities in the Detroit area include a research and development center in Auburn Hills and another one in Troy, as well as two production plants in Sterling Heights.
The 300,000-square-foot facility will be built and operated by General Development Co. at I-75 and University Drive, on a 211-acre parcel that was acquired by the developer from Chrysler Group LLC in 2010. According to Crain’s, construction at the site will begin by mid-spring 2013.
While Faurecia’s expansion plans in Auburn Hills show once more that the Detroit area commercial real estate is striving to regain its lost glory, this week’s highlight news comes—again!—from local investor Dan Gilbert. As reported by The Detroit News, the historic Vinton Building located at 600 Woodward Avenue was purchased for an undisclosed amount by 600 Webward LLC, an affiliate of Gilbert’s Bedrock Real Estate Services. The transaction comes only one week after the real estate mogul closed on a Class A office tower at 1001 Woodward Avenue.
Opened in 1916 as the headquarters for the Vinton Construction Company, the 12-story Vinton Building was designed by Albert Kahn in the neo-classical architectural style. In 1982 the building was designated a Michigan State Historic Site and one year later it was listed on the National Register of Historic Places.
With this acquisition Gilbert and his affiliates currently own 17 prominent buildings totaling nearly 2.9 million square feet of commercial and residential space in downtown Detroit.