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A New York-based company called North Empire LLC, through a chain of limited liability companies, paid north of $69 million for Ford buildings in Dearborn, Detroit and Allen Park, including Ford Manufacturing Development Center on Hubbard Drive ($23 million) , the Detroit Chassis LLC building ($11 million) on Lynch Road and a building on Mercury Drive ($10.894 million). An email was sent to North Empire seeking comment.
The sales come as Ford transforms its Dearborn footprint.
“What they’ve done so far is really interesting,” said Jared Friedman, senior managing director of Farmington Hills-based Friedman Real Estate, which has looked at several of Ford’s properties, including Regent Court. “If you look at everything between Hubbard, Ford, Mercury and Southfield, basically the whole square mile is gone. They don’t really have anything there that they own.”
Ford has said for years that part of its effort to overhaul its campus in Dearborn has involved shedding buildings and other assets it no longer needs.
Some of those include buildings it didn’t occupy itself, said Jim Dobleske, CEO and chairman of Ford Land, in an interview earlier this year. He has not been available for an interview for the past few weeks.
“They were not occupied by Ford pre-COVID, during COVID and they will not be in the future,” he said. “Some of them are third-party tenant sites and our suppliers, those are third-party tenants and their return-to-work model, their work evolution, has also changed so that while they decided to come back and go back to work. or not, for those assets that we don’t see as fitting into Ford’s overall strategy going forward, that’s how we look at that portfolio and make some of those decisions.”
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