Hemmeter Building Lands New Owner
- Sep 03, 2015
Lear Corp., an automotive supplier based in Southfield, acquired the Hemmeter Building located at 1465 Centre St. for an undisclosed price. According to DBusiness, who quoted CoStar, the property hit the market for a $5 million price tag.
Both the seller and buyer were represented by Forum Group, an NAI Farbman Group Partner. Handling the transaction were Managing Member Michael Ziecik and Dan Callaway of the firm’s corporate sales and leasing team.
The new owner plans to upgrade the 50,000-square-foot building and use it as a satellite office that will probably house administrative functions, but the renovation project is still in the early phases.
Completed in 1911 for the Hemmeter Cigar Factory, the seven-story building remained with the Hemmeter family until 1943, when it was sold to Detroit Trust Co. Over the years the asset changed ownership several times—according to Crain’s Detroit Business, Lear Co. purchased it from an entity called Woodward Building Plaza Inc.
Up until recently, the Hemmeter Building was known for housing Coach’s Corner Bar & Grill—but the sports bar recently moved into the Michigan Building in downtown Detroit. Other tenants include Wolverine Fur Co. and Spectacles Inc.
Image via Historic Detroit