REDICO Closes on Acquisition and Development Project for TI Fluid Systems Corporate Offices in Auburn Hills
TI Fluid Systems renews lease and expands corporate offices in Auburn Hills for new state-of-the-art technology center
Auburn Hills, MI, Feb. 08, 2023 (GLOBE NEWSWIRE) -- REDICO, a national, full-service real estate development and investment company, along with their partner, the Yellen Family Office, recently closed on the acquisition and planned development project for the Auburn Hills corporate offices of TI Fluid Systems (TIFS), a leading global supplier of automotive fluid systems technology.
Located at 2020 Taylor Road, TI has occupied the 140,000-square-foot location in the Fieldstone Industrial Complex since January 2016. The building features three floors of office space, dining facilities, collaboration areas, and a spacious lobby to display its products.
Designed by F.A.studio, the renovation will extend and modernize the corporate offices, as well as develop the space to build a brand-new e-Mobility Innovation Center, where the next generation of products and technologies will be developed.
“We are excited that we were able to take this very ambitious idea and make it a reality. This project has a lot of pieces and took multiple parties to help put them together. TI is really excited about extending their partnership with Auburn Hills and Cunningham-Limp and really looking forward to their new partnership with REDICO,” said TI Fluid Systems Global Real Estate Director, Matthew Johnston.
“For us, this project is really about bringing TI Fluid Systems’ vision to life. The end result will yield modernized corporate offices and a state-of-the-art technology center – not only to benefit the automotive industry, but to improve the working environment for employees,” said REDICO president and CEO, Dale Watchowski.
REDICO and the general contractor, Cunningham-Limp, will begin construction this March to expand TI’s corporate office presence by 48,400 square feet, completing the project at 192,000 square feet. This project is expected to be completed by early 2024.
“REDICO is thrilled to grow our presence in Auburn Hills with the purchase and expansion of 2020 Taylor Rd. for TI Fluid Systems. This deal is a testament to our strategy of working with world-class automotive and EV companies to meet their current and future real estate needs through creative acquisitions and developments,” said REDICO SVP of Acquisitions & Investments, Andrew Dunlap.
“This is a special project for the Cunningham-Limp team, not only because of the positive impact this addition will have but because of the unique opportunity to bring together REDICO and TI Fluid Systems, two of our long-time clients we’ve had the privilege of building close relationships with. The collective strength of these organizations coming together will be reflected in this project’s inevitable success and the resulting benefits for our community.” Stated Cunningham-Limp President, Sam Ashley.
This significant local growth was made possible with Savills, one of the world's leading property advisors, leading the real estate strategy for this expansion to renew and grow TI’s corporate offices while bringing its local technology center onto the premises. Greg Bockart, Executive Managing Director, Market Leader, Detroit negotiated a sale to REDICO.
“The corporate office's extension illustrates TI Fluid Systems' long-standing commitment to the Detroit area,” said Bockart. “I am pleased we were able to accomplish our client’s goal of bringing both locations in one central place.”
For over 50 years, REDICO (Real Estate Development and Investment Company), has been a national leader in the real estate industry. Headquartered in Southfield, Michigan, REDICO offers a diverse portfolio of services, including real estate development, investment, asset management, property management, capital partnering, and leasing. For more information, visit www.redico.com.
About TI Fluid Systems
TI Fluid Systems is a leading global manufacturer of fluid storage, carrying and delivery systems primarily for the light duty automotive market. With more than 100 years of automotive fluid systems experience, TI Fluid Systems has manufacturing facilities in 104 locations across 29 countries serving all major global OEMs.
About Savills Inc.
Savills helps organizations find the right solutions that ensure employee success. Sharply skilled and fiercely dedicated, the firm’s integrated teams of consultants and brokers are experts in better real estate. With services in tenant representation, workforce and incentives strategy, workplace strategy and occupant experience, project management, and capital markets, Savills has elevated the potential of workplaces around the corner, and around the world, for 160 years and counting.
For more information, please visit Savills.us and follow us on LinkedIn, Twitter, Instagram, and Facebook.
Headquartered in Novi, MI, Cunningham-Limp is a construction management organization whose focus is to bring a positive impact to the communities in which they work. Led by a team of real estate experts, financial advisors, engineers, and construction professionals, Cunningham-Limp delivers solutions by actively managing projects from concept through completion.
CONTACT: Alyse Wagner REDICO 7347768378 email@example.com