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Visteon Sells Grace Lake Corporate Center In Van Buren Township, Mich., To Sovereign Partners, LLC

VAN BUREN TOWNSHIP, Mich., April 17, 2012 /PRNewswire/ -- Visteon Corporation (NYSE: VC) announced today that it has sold the Grace Lake Corporate Center property in Van Buren Township, Mich., to Sovereign Partners, LLC, a privately held real estate investment firm, for $81.1 million. Visteon signed a 15-year lease for 527,000 square feet on the site where its corporate offices and innovation center will continue to be located.    

(Logo: http://photos.prnewswire.com/prnh/20001201/DEF008LOGO )

Under the agreement, Sovereign Partners will manage the 287-acre Grace Lake property, including all office buildings and a conference facility. The property's other tenants, GE and Dana Holding Corp., each have long-term leases that will remain in effect with the new property owner.

Sovereign Partners is a privately held real estate investment organization that specializes in the acquisition of high-quality assets throughout the United States. Its principals are Darius Sakhai and Cyrus Sakhai.

Visteon is a leading global automotive supplier that designs, engineers and manufactures innovative climate, electronic, interior and lighting products for vehicle manufacturers. With corporate offices in Van Buren Township, Mich. (U.S.); Shanghai, China; and Chelmsford, UK; the company has facilities in 27 countries and employs approximately 26,000 people. Learn more at www.visteon.com.

SOURCE Visteon Corporation

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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