Bedrock earlier this week announced a deal with LM Manufacturing, a joint venture between Magna, a global automotive supplier, and LAN Manufacturing, a minority-owned automotive supplier based in Michigan, to provide 296,000 square feet of manufacturing space in Detroit’s Delray neighborhood.
The Delray neighborhood is just four miles west of Detroit’s city center.
“This announcement is the latest sign of the resurgence of Detroit’s auto manufacturing industry and expanding opportunity for Detroiters,” said Detroit Mayor Mike Duggan in a statement.
Under the agreement, LM Manufacturing will lease space in 6451 W. Fort St., 6401 W. Fort St. and 150 Rademacher in the Bedrock-owned former Sakthi Industrial Campus to develop a plant for manufacturing automotive seating. The plant is expected to create a combination of more than 390 jobs.
“The U.S. demand for modern and adaptable industrial space has grown exponentially over the past decade,” said Kofi Bonner, CEO at Bedrock, in a statement. “To retain a competitive edge, it is imperative that Detroit maintains development-ready sites that incorporate modern industrial facilities to not only foster business growth and expansion but provide access to much-needed job opportunities.”
Bedrock acquired the former Sakthi Industrial Campus in September of 2020, growing the developer’s industrial footprint and marking its largest acquisition outside of Detroit’s Central Business District.
The nearly 37-acre acquisition included approximately 529,000 square feet of industrial and manufacturing space, 89,000 square feet of office and flex space and more than 10 acres of developable land. The property is strategically located just four miles west of downtown Detroit, adjacent and to the Norfolk Southern Rail Line and near the future Gordie Howe International Bridge U.S. Port of Entry.
The lease is expected to commence in May 2022.