Former Sakthi Automotive Group site
201 Waterman St.
Bedrock acquired the former Sakthi Automotive Group campus on W. Fort Street in Southwest Detroit in 2020. In February 2022, the developer announced Canadian auto supplier Magna and Detroit supplier LAN Manufacturing Group LLC were partnering through LM Manufacturing to open an $18.1 million seating facility on 296,000 square feet of the site. The project received a $2 million Michigan Business Development Program grant and is expected to be supported by a city property tax abatement. Bedrock's 37-acre property includes 10.4 acres of developable land and industrial and office real estate totaling about 620,000 square feet, as well as the shuttered Southwestern High School, reportedly in "poor condition." The site was lost in receivership by Sakthi after the defaulted on paying back debts. Bedrock's reported purchase price was $38.5 million.
Sources: Bedrock, Automotive News, Crain's Detroit Business
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The former Sakthi industrial campus in Delray. Credit: Bedrock via Twitter