Automotive Supplier Cross Huller
Leases Sterling Heights Office Building

(12/8/1999)
Colliers International

STERLING HEIGHTS, Mich., Dec. 8 -- In one of Macomb County's largest office leases ever, automotive supplier Cross Huller leased the entire 31,000-square-foot (SF) Sterling Plaza office building in Sterling Heights, Mich., its Colliers International real estate brokers announce.

Cross Huller, a division of Thyssen Steel, will move its regional executive offices there in January 2000. The $4.2-million, two-story Sterling Plaza, developed by Crosswinds Commercial, Inc. and The Monahan Company, is on the corner of South Cove Road and Lakeside Circle, within walking distance of Lakeside Mall and within minutes of the many retailers, restaurants and services on Hall Road.

It is Sterling Heights' first class A office building in nearly a decade, says Mark Singerman, Crosswinds Commercial vice president. "We're so optimistic about this market that we've begun work on the second phase of Sterling Plaza," Singerman adds. "It will include 65,000 to 70,000 square feet of class A office in one or more buildings. We hope to break ground in March."

The rapid leasing of Sterling Plaza -- just 30 days after the building became ready for occupancy -- illustrates the growing demand for quality office space in Sterling Heights, explains Barbara Eaton, part of Colliers International's Sterling Plaza marketing team. "Sterling Plaza attracted a great deal of interest from companies wanting to establish a Macomb County presence," says Eaton. "It's a trend; we've placed a number of tenants in Sterling Heights locations over the last six months. It's all driven by the county's rapid population growth in the last several years. Businesses -- particularly service businesses -- want to be where their customers and employees live."

"The demand is pushing up the price for vacant land in Sterling Heights. The price has nearly doubled in the last year, reaching $5 to $6 a square foot," adds Mike Bennett, another Colliers broker who marketed Sterling Plaza.
"Developers are buying much of it, attracted by the tight market and by the relatively low price."

Colliers International's market research confirms a high demand for quality office space in Sterling Heights. The city's tiny class A/A-minus market includes just one other building, the 135,000-SF Sterling Town Center, which is also 100 percent occupied.

Crosswinds Commercial, Inc., of Novi, Mich., is a division of Crosswinds Communities, Inc., the largest builder of affordable homes in Michigan. Crosswinds Commercial, Inc., develops office, industrial, retail and mixed-use
projects throughout the U.S.

Colliers International of Michigan, founded in Detroit since 1925, offers full-service commercial real estate from its main office in Bingham Farms, Mich., and its downtown Detroit office. It is a part of the CMN Group of Companies, a leading international commercial real estate corporation with more than 80 offices worldwide on four continents. The CMN Group of Companies is also the largest individual owner/member of Colliers International Property Consultants, an international organization of 40 member firms with 4,900 professionals in over 235 offices in 50 countries on six continents around the world.

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