crefeed.com | Lee & Associates brokers sale of 16,000 sf Detroit flex building

3/4/2008

Lee & Associates brokers sale of 16,000 sf Detroit flex building

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Oxford, Mass.-based IPG Photonics has purchased a flex building in the Detroit suburb of Novi, Mich., from Anlin Development. Jon Savoy and Joseph Pellerito of Lee & Associates represented Anlin while IPG was represented by the firm's Mark Schafer.

The building contains 16,048 square feet and is located at 46695 Magellan Drive, about 30 miles northwest of Detroit. IPG, a global laser equipment firm, will use the facility as its metro Detroit showroom and laboratory for laser related processes.

Savoy is a president with Lee & Associates and is the former senior VP and director of industrial services for Grubb & Ellis' Detroit office. He specializes in the sale of industrial and land properties.

Pellerito is an associate with Lee & Associates and has been a real estate professional for 15 years. He is a former employee of Schostak Brothers and Company, Inc. and Grubb & Ellis. Pellerito is a graduate of the Wayne State University Law School.

Address: 46695 Magellan Drive, Novi, Mich.

Size: 16,048 square feet

Filed Under: Office

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