An affiliate of Milwaukee-based Phoenix Investors acquired approximately 1.8 million square feet of industrial floorspace across three buildings in Buena Vista Charter Township in the Saginaw, Michigan, area.
The buildings are locally known as Plants 5, 6/1, and 7. The transaction supports Nexteer’s continued manufacturing operations in Saginaw while enabling Phoenix to invest in, reposition, and actively market available industrial space for future use.
The property has a long history as a major manufacturing hub in the region. Development of the former General Motors Saginaw Steering Gear complex helped shape Buena Vista Charter Township’s industrial landscape beginning in the 1950s and 1960s. Currently, the campus serves as part of the significant manufacturing operations for Nexteer Automotive.
For Nexteer, the transaction represents a strategic next step in the company’s ongoing Saginaw site transformation, which began in 2018 and is focused on improving operational efficiency, strengthening core manufacturing operations, and supporting long-term competitiveness in the region.
As part of the transaction, Nexteer will continue to occupy approximately 1.27 million square feet across two buildings (Plants 6/1 and 7) through a lease-back arrangement and has retained ownership of the adjacent plants, locally known as Plant 3 and Plant 4, and land, including the solar field and test track. Day-to-day operations in the lease-back facilities are expected to continue as they do today during the planned transition period. Approximately 552,000 square feet in Plant 5 is currently available for lease.
Phoenix intends to make meaningful capital investments throughout the property and reposition the available space for new industrial users, while supporting Nexteer’s continued operations during the planned transition period. The campus’s existing manufacturing infrastructure, scale, utility capacity, access, and established industrial use make it particularly well-suited for manufacturers seeking a cost-effective alternative to ground-up development.
Located near I-75 and M-46 (Holland Road), the property sits within an established manufacturing corridor in a region with longstanding ties to the automotive and advanced manufacturing industries. Phoenix believes the existing infrastructure and available space provide a strong foundation to attract additional manufacturing and industrial investment to Buena Vista Charter Township and the greater Saginaw area.
CBRE’s Andrew Baines, Matt Osiecki, and Joe Kemp represented Nexteer in the sale transaction.
Phoenix will directly market the approximately 552,000 square feet of available space for lease to prospective manufacturing and industrial users. Together, the transaction enables Nexteer to focus on its core Saginaw operations while creating opportunities for Phoenix to attract new industrial users to available space on the campus.
