Marcus & Millichap Brokers $7.4M Sale Of Office Building Leased To Teijin Automotive In Auburn Hills

The property at 255 Rex Boulevard in Auburn Hills, MI, is a 68,839-square-foot office building situated on five acres. It was sold for $7,400,000, translating to a price per square foot of $107. The building has been leased to Teijin Automotive, which has occupied it since 2014 under a renewed 10-year lease.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $7,400,000
• Address: 255 Rex Boulevard
• Market: Auburn Hills, MI
• Asset Size: 68,839 SF
• Price per Square Foot: $107
• Acres: 5
• Brokers: John Godwin - Marcus & Millichap & Melissa Mann - JLL

Marcus & Millichap brokered the sale, which involved a long-term lease agreement with Teijin Automotive. The deal was managed by brokers John Godwin from Marcus & Millichap and Melissa Mann from JLL, contributing to the successful closure of the transaction.