Press Releases
Marcus & Millichap Announces $7.4M Sale of Teijin Automotive Headquarters in Auburn Hills, Michigan
December 18, 2024
AUBURN HILLS, Mich., Dec. 17, 2024 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of 255 Rex Blvd., a 68,839-square-foot office property leased to Teijin Automotive in Auburn Hills, Michigan. The property sold for $7,425,000.
John Godwin and Melissa Mann, investment specialists in Marcus & Millichap’s Detroit office, had the exclusive listing to market the property on behalf of the seller, and procured the buyer.
Built in 1989, the office property is located on 5.15 acres just off Interstate 75. It has served as the corporate headquarters for Teijin Automotive Technologies, with a corporate guarantee from Teijin Limited, a Japanese chemical, pharmaceutical, and information technology company, since 2014. The company recently renewed its lease for an additional 10 years.
John Godwin and Melissa Mann, investment specialists in Marcus & Millichap’s Detroit office, had the exclusive listing to market the property on behalf of the seller, and procured the buyer.
Built in 1989, the office property is located on 5.15 acres just off Interstate 75. It has served as the corporate headquarters for Teijin Automotive Technologies, with a corporate guarantee from Teijin Limited, a Japanese chemical, pharmaceutical, and information technology company, since 2014. The company recently renewed its lease for an additional 10 years.
# # #
About Marcus & Millichap, Inc. (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2024, the company had 1,712 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 7,836 transactions in 2024, with a sales volume of approximately $49.6 billion. For additional information, please visit www.MarcusMillichap.com.
