Visteon sells corporate center in Wayne County for $81.1 million

By Lizzy Alfs Business Reporter

Posted on Wed, Apr 18, 2012 : 1:09 p.m.

Visteon Corp., a Michigan-based auto parts supplier, announced Wednesday that a privately held real estate investment firm purchased its Grace Lake Corporate Center property in Van Buren Township.

The price tag: $81.1 million.

Van Buren Township's Grace Lake Corporate Center, seen here in December 2009.

AnnArbor.com file photo

Visteon, which built the complex located at 1 Village Center Drive, just east of I-275, also announced it signed a 15-year lease for 527,000 square feet on the site — where its corporate offices and innovation center are currently located.

The complex is situated on 287-acres and has 850,000 square feet in office facilities.

The buyer — real estate investment firm Sovereign Partners LLC — will now manage the property.

Other tenants at the Grace Lake Corporate Center include Dana Holding Corp. and General Electric’s 200,000-square-foot Advanced Manufacturing & Software Technology Center, which the company opened in 2009.

Tags: Visteon,

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Lizzy Alfs is a business reporter for AnnArbor.com. Reach her at 734-623-2584 or email her at lizzyalfs@annarbor.com. Follow her on Twitter at http://twitter.com/lizzyalfs.