Phoenix Investors Acquires 1.8 Million Square Feet of Saginaw Industrial Space

The transaction covers three buildings—locally designated as Plants 5, 6/1, and 7—which have served as a cornerstone of the Saginaw automotive landscape since the mid-20th century. Under the agreement, Nexteer will maintain a lease-back arrangement for 1.27 million square feet in Plants 6/1 and 7, ensuring current manufacturing operations remain undisturbed during the transition. The company retains full ownership of its adjacent Plant 3 and Plant 4 facilities, along with its test track and solar field.

For Phoenix Investors, the acquisition represents a move to revitalize underutilized industrial assets. The firm plans to inject capital into the campus to attract new users to the 552,000 square feet of currently available space in Plant 5. Anthony Crivello, President of Phoenix Investors, noted that the site’s existing utility capacity and proximity to I-75 and M-46 provide a ready-made alternative to ground-up construction for expanding manufacturers.

Nexteer frames the divestment as a strategic pivot to boost efficiency. Jill Dralle, Vice President and USA Divisional President, stated that the move enables the company to concentrate resources on its core manufacturing modernization and long-term growth in the Saginaw region. CBRE brokers Andrew Baines, Matt Osiecki, and Joe Kemp facilitated the sale, which marks another step in the broader site transformation process Nexteer initiated in 2018.