Newmark is listing the 1903-built Packard Plant at 1580 E. Grand Blvd. in Detroit. The former assembly plant in the heart of Detroit’s industrial corridor offers tenants build-to-suit opportunities and is divisible to 250,000 square feet.
Renovations to the 117-year-old, 3.2 million-square-foot building will begin in the third quarter of 2021, with occupancy estimated for the start of 2022. The former administrative building and the Water Tower will both be restored.
Newmark Senior Managing Director Larry Emmons and Executive Managing Director Dan Labes are representing the building landlord, Arte-Express Detroit, in the listing. The property is listed for sale or lease.
“We are thrilled to be a part of helping reposition the Packard Plant, an incredibly recognizable symbol of Detroit’s once defining auto industry. The redevelopment of the plant–formerly that of Packard Motor Company–is so important as we continue to see innovative developments attract industrial users to Detroit,” said Emmons of the listing.
The property is well-located, with quick access to I-75/I-94, downtown Detroit as well as GM’s Detroit-Hamtramck Assembly, now Factory ZERO–home of GM’s electric vehicle fleet–and FCA’s Jefferson North Assembly.