L.A. Firms Buy Detroit-Area Industrial

L.A. Firms Buy Detroit-Area Industrial

LIVONIA, MI—Los Angeles-based firms Hackman Capital Partners LLC and Oak Pass Capital Management have purchased two industrial properties here totaling 285,306 sq. ft.

The sites were acquired from LNR, the special servicer, at a discount to their 2005 value – though the purchase price was not disclosed. The buildings, at 38220 and 38150 Plymouth Rd., are both 100% occupied. Tenants include Helm, a leading provider of branded merchandise, fulfillment and e-commerce turnkey solutions and McKesson, a healthcare services and information technology company, occupy the facilities.

“We are thrilled with the acquisition and excited to establish a presence in Metro Detroit,” said Michael Hackman, founder and CEO of Hackman, in a statement.  “The properties are first rate with two, stable, long-term tenants—and Livonia, home to several large businesses and employers including Ford, General Motors, Comerica and TRW Automotive, is well positioned for continued growth and increasing demand from distribution users.”

Charles Toppino, president of Oak Pass Capital, said in the statement that “the Livonia market is in full recovery which was part of the appeal of this acquisition.”

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