Mars
- 25200 Telegraph Rd | Southfield, Michigan
- Property Type: Office
- Size: ±195,700 SF
- Assignment Type: Facility Management, Leasing, Property & Asset Management
Challenges
Friedman was appointed managing and leasing agent in 2005 of this 200,000 square foot office building in Southfield. Upon takeover, the largest tenant, a civil engineering firm occupying one-half of the property gave notice of their intent to reduce their occupied square footage by approximately 60,000 or 30% of the building. The property was also in dire need of updating since its finishes were from the building’s original construction in the early 1970’s.
Solutions
The property required a full lobby, corridor and atrium renovation and an aggressive leasing campaign in attempt to back-fill the space given back by the engineering firm in order to stabilize the property.
Results
Friedman renovated the lobby, common areas and atrium to provide the building with a fresh look and appearance and reposition the asset as a newly modernized office building. As a result, Friedman was able to immediately lease 62,000 square feet to a locally owned advertising company essentially absorbing all of the square footage given back by the engineering firm. Friedman has also procured another 40,000 square feet of new leasing. The building is currently 76% occupied.
