Birmingham. Mich.-based Amson Nassar Development has closed on the purchase of a 301,000-square-foot building in Fraser, Mich., occupied by Faurecia Interior Systems Inc.
Fadi Nassar, president and CEO of the company, said the purchase for the building on 14 Mile Road was "pretty close to $20 million" and closed in December. Faurecia, the previous owner, will remain in the building after signing a 12-year lease, Nassar said.
"This is their third-most-productive plant in North America," Nassar said.
It sits on nearly 28 acres and has 419 parking spots, according to a marketing brochure. It was built in 1957 and expanded in 2006.
Amson Nassar has a portfolio of about 2 million square feet, Nassar said, adding that the company did $59 million in transactions and construction last year. He runs the company with founder Oleg Amcheslavsky.
Faurecia paid $7.5 million for the building in June 2005, according to CoStar Group Inc., a Washington, D.C.-based real estate information service. The deal was brokered by the Southfield, Mich., office of Colliers International Inc.