Partnership Between Friedman and General Development Proves to be a Winning Combination at Oakland Technology Park

Posted on September 18, 2014

Farmington Hills, Michigan (September 18, 2014) – Friedman Integrated Real Estate Solutions, one of the nation’s leading providers of commercial real estate services, in partnership with General Development Company, LLC, one of the largest Tech/Industrial developers in Southeast Michigan, has successfully positioned Oakland Technology Park as the epicenter for top automotive and manufacturing firms.

Oakland Technology Park is conveniently located 30 miles north of Detroit, in the heart of Oakland County, one of the wealthiest counties in the U.S. With excellent visibility on I-75 in the City of Auburn Hills, one of the fastest growing suburban cities in Southeast Michigan, Oakland Technology Park offers easy highway access to the state’s major urban markets and is in close proximity to Detroit Metropolitan Airport and Flint’s Bishop International Airport.

Oakland Technology Park was formed in 2010, following the purchase of 211 acres by Southeast Michigan-based developers General Development and Premier Equities, a subsidiary of Friedman Integrated Real Estate Solutions. The undeveloped land was previously owned by Old Carco LLC, the liquidation arm for the former Chrysler Corporation. General Development serves as the property’s developer. Here is a look back at the history of the Oakland Technology Park and its successful transition into one of the premier global manufacturing addresses in the Midwest.

US Farathane Corporation, a leading plastics manufacturer for the automotive industry, was the first company to develop in the technology park in April 2010 with the construction of a high-tech 250,000 square foot plastic injection mold facility. The facility serves as the company’s world headquarters, research and development and small-parts manufacturing center.

Henniges Automotive North America Inc., which manufactures automotive sealing systems for doors, window, trunks, liftgates, sunroofs and hoods, had General Development construct a 55,000 square foot, Silver LEED certified headquarters facility in 2011. The deal marked the second in the development of the technology park and as the automotive industry reinvented itself following the recession, other businesses began to take notice of its prime location and the availability of build to suit opportunities.

Take Faurecia for example. In 2013, one of the world’s largest automotive suppliers (and the largest automotive supplier in France) with business groups in automotive seating, emissions control technologies, interior systems and automotive exteriors, entered into an agreement for a long term lease to build a 288,000 square foot building at the technology park and moved into the facility in March 2014. Earlier this summer, the company celebrated the opening of its new North American headquarters at the technology park which houses approximately 700 employees. The three-story facility includes Faurecia’s North American administration and executive headquarters and a full-fledged Seating TechCenter with prototype metal shop; trim development lab; just-in-time (JIT) manufacturing lab; structural testing lab; environmental testing chambers; noise, vibration and harshness (NVH) and electrical lab; and semi-anechoic chamber for sound testing.

Continuing the positive momentum at Oakland Technology Park, Atlas Copco, a global leading provider of industrial productivity solutions, is moving next month into a newly-constructed 120,000 square foot facility. The facility will serve as the North American headquarters for the tools and assembly division and will be utilized for office, shop and warehouse space housing more than 200 employees.

Hirotec America, a subsidiary of Japanese-based automotive supplier Hirotec Co., is planning to expand its North American operations with the construction of a 216,000 square foot headquarters complex in the technology park which broke ground the first week of September, 2014. According to a recent article in the Detroit Free Press, the expansion is expected to generate up to $26 million in new capital investment and will bring 140 new jobs to Michigan. The company is scheduled to occupy the new facility late next summer.

The latest project at Oakland Technology Park is for Utah-based NOAH’S, the first company in the United States to build a national chain of event centers, who purchased a 4-acre site to build a corporate conference and banquet center.

Not only is this recent flurry of development good news for Oakland Technology Park, but for the City of Auburn Hills as well. Committed to innovation and growth, the city offers incentive programs for businesses wishing to relocate. Bruce Brickman, Principal and co-owner of General Development, agrees. “Auburn Hills is a community with a long history of proactively supporting technology-based companies via the use of tax abatements, an expedited review process, and an extremely business friendly community. It is considered by many the premier destination for companies located in Southeast Michigan.”

“Oakland Technology Park is an extremely attractive option for automotive suppliers and other global businesses looking to expand as Auburn Hills is home to over 900 thriving businesses, ranging from retail to hi-tech, manufacturing, research, medical and educational institutions,” said David Friedman, Premier Equities founder and President and CEO of Friedman Integrated Real Estate Solutions.

“Currently, there are only 80 acres available for build-to-suit projects at Oakland Technology Park,” said Stacy S. Fields, Asset Manager for General Development. “Sites are suitable for technology/research, life science, office, medical and light manufacturing possibilities.”

At the time General Development and Premier Equities purchased the land back in 2010, Oakland Technology Park was said to represent a new era of future development for Auburn Hills. With the influx of leading national and international automotive and manufacturing firms headquartered there, that is definitely proving to be the case.

ABOUT FRIEDMAN INTEGRATED REAL ESTATE SOLUTIONS

Recognized as one of the largest privately-held commercial real estate organizations in the nation, Friedman Integrated Real Estate Solutions provides clients with a single point of contact for the full range of services it offers.

Friedman manages over 140 facilities encompassing more than 16M SF of commercial and 8,000 multi-family units across the country. Friedman’s brokerage team has over 800 current listings with $10 billion in closed transactions. As owners and managers of commercial property for over 25 years, Friedman understands what it takes to achieve results that maximize the client’s objectives.

For more information, please visit: www.oaklandtechnologypark.com

and www.friedmanrealestate.com

ABOUT GENERAL DEVELOPMENT COMPANY

General Development Company, LLC (GDC) has been in business since 1983, completing over (7) seven million square feet of transactions. GDC is one of the largest tech/industrial developers in Michigan that offers full service real estate development. Our range of services includes built-to-suit development, construction management, general contracting, real estate consulting, property management and specialized property solutions. We have extensive experience in Brownfield and tax incentive properties as well as property re-development.

 

For more information, please visit:  www.gendev.com