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Automotive Supplier Cross Huller Leases Sterling Heights Office Building

8 December 1999

Colliers International: Automotive Supplier Cross Huller Leases Sterling Heights Office Building    

    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.
    (Photo:  NewsCom:  http://www.newscom.com/cgi-bin/prnh/19991207/DEW003 )
    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.