The Ford Motor Company is putting a 464,000-square-foot Far West Side building on the market and expects to sell it for more than $230 million.
The automotive giant paid $73 million to buy and renovate the site at 787 11th Avenue, between West 54th and 55th streets, in 1997, Crain’s reported. Ford uses the eight-story building as a service center for its own brand and for Lincoln. Jaguar and Land Rover dealerships occupy the building’s ground floor. Ford sold those brands to Indian conglomerate Tata in 2008.
CBRE’s Darcy Stacom and Bill Shanahan are marketing the property, according to the publication. [Crain’s] — Mark Maurer