Phoenix Investors Buys 1.8 MSF Michigan Campus
The seller will lease back a portion of the portfolio.
Phoenix Investors has purchased three industrial buildings totaling 1.8 million square feet in Buena Vista Charter Township, in Michigan’s Saginaw County. Nexteer Automotive sold the facilities, known as Plant 5, 6/1 and 7, that are part of its manufacturing campus. CBRE worked on behalf of the seller.
As part of the transaction, the automotive supplier will lease back 1.3 million square feet across Plants 6/1 and 7 and continue its operations at the facilities during a planned transition period.
Phoenix Investors will reposition the space, planning capital improvements across the portfolio. The new owner will handle leasing in-house for the roughly 552,000 square feet available at Plant 5, targeting fabrication and industrial users.
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Plant 5 occupies a 25-acre lot at 3900 E. Holland Road, close to interstates 75 and 675. MBS International Airport in Freeland, Mich., is 21 miles away, while Detroit is roughly 100 miles southeast.
Built in 1964, Plant 5 features 18- to 47-foot clear heights, ample column spacing, 11 drive-in doors, LED lighting and. The property is rail-served.
The Saginaw manufacturing campus
Nexteer’s Saginaw campus has served as a major manufacturing hub for decades. It was originally developed as part of General Motors’ complex which helped in shaping the industrial footprint of Buena Vista Charter Township back in the 1950s and 1960s.
Under the current transaction, Nexteer retains ownership of the remaining properties, Plants 3 and 4, along with additional land containing a solar field and test track. The move aligns with the firm’s ongoing campus transformation efforts, which have been underway since 2018. The company plans to reinvest a portion of the sale proceeds into its core manufacturing operations.
CBRE Senior Vice President Andrew Baines, First Vice President Matt Osiecki and Vice President Joe Kemp represented the seller.
Saginaw draws more industrial investment
Saginaw County has been a manufacturing hub for more than 150 years and continues to attract new investment.
For instance, Corning Inc. and subsidiary Hemlock Semiconductor are developing an interconnected manufacturing hub consisting of a fab and a solar panel factory. The Hemlock, Mich., facility has expanded from 2022 to 2025, with a new phase expected to break ground this year, while Corning’s 1 million-square-foot plant, underway since 2024 in Richland Township, Mich., is approaching completion.
Other manufacturers are expanding in the county as well. In April, Michigan-based Saginaw Control & Engineering Inc. unveiled plans to invest $50 million in a 230,000-square-foot manufacturing facility in nearby Thomas Township. The Michigan Strategic Fund is supporting this expansion through a $570,000 performance-based grant, while the city is offering a real property tax abatement.
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