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Chicago & Midwest  + Midwest  + Office  |  December 19, 2024
Jasmine Kilman
By: Jasmine Kilman

Marcus & Millichap Brokers Sale of Teijin Automotive HQ in Michigan

Marcus & Millichap has completed 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 million.

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.

The property 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.

Built in 1989, the office property is located on 5.15 acres just off Interstate 75.

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About Jasmine Kilman

Jasmine Kilman is Content Director of Connect Commercial Real Estate, covering Chicago and greater Chicagoland, the Midwest, Seattle, and the Pacific Northwest. She covers industry trends, transaction deals, market research, and produces daily news stories. With experience in marketing and communications for academic nonprofits and corporate clients, including Hearst Media, Hilton, and Coldwell Banker, Kilman has written about commercial real estate, environmental, social, and corporate governance (ESG), technology, healthcare, and philanthropy. She was born and raised in California and graduated with a degree in public relations. In her spare time, Kilman enjoys hiking and traveling to new locations with her family.
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