The Ilitch family's Olympia Development said Monday it will build a 200,000-square-foot Class A office building in Farmington Hills to house the offices of Mercedes-Benz Financial Services USA.

Pending permits and zoning approvals from the City of Farmington Hills, Olympia will build the structure on a 35-acre parcel of vacant land on the southwest corner of Drake and 12 Mile roads.

This marks the first new development by the Ilitches' Olympia development arm outside the downtown Detroit area near Little Caesars Arena marketed as the District Detroit. The site of the project has been controlled by the Ilitch family for more than 30 years.

The new three-story headquarters will include an open environment to encourage collaboration and will offer a fitness center, cafe, coffee bar and more. The project will also feature a walking and jogging path and will preserve the woodlands and wetlands currently on the site.

More:Crews install the last panels of pizza-slice glass at Little Caesars HQ, finally

More:Historic Detroit hotel was supposed to be renovated years ago. Now it may finally happen.

Construction is expected to begin this fall, with completion estimated for summer 2021. Olympia said the Detroit-based office of architecture firm Gensler has designed the complex. Kirco Manix, a Michigan-based full-service construction company, will act as general contractor.

Mercedes-Benz Financial Services USA LLC, currently headquartered in leased office space in Farmington Hills, provides financial products and services for Mercedes-Benz automotive dealers and their retail customers.

The cost of the project was not revealed, but using a general estimate of $300 per square foot cost for a Class A building would translate into a cost of about $60 million.

Contact John Gallagher:313-222-5173 or gallagher@freepress.com.Follow him on Twitter@jgallagherfreep. Read more on business and sign up for our business newsletter.