Farmington Hills, Michigan, June 15, 2012 – Friedman Integrated Real Estate Solutions announced today it has been retained as the exclusive leasing and property management firm for the 1.2 million SF, headquarters-quality Class “A” office development located in Troy, Michigan. A fund managed by Rialto Capital Management, LLC (“Rialto”), a Miami based, wholly owned subsidiary of Lennar Corporation (NYSE: LEN and LEN.B) acquired the 8 building park earlier this month.
Situated in Troy’s Crooks Road interchange, North Troy Corporate Park, formerly known as Baluster Park, has traditionally provided top corporate users such as Siemens, Henry Ford Health System, United Global Sourcing and Rehmann Robson CPA, a highly accessible location featuring park-like settings and on-site amenities that include a café and snack shop, restaurants, retail options and services such as the Riparian Grill, Ruth’s Chris Steak House, Lifetime Fitness and The Somerset Collection.
“We are very pleased to add North Troy Corporate Park to the Rialto portfolio given the quality of the asset and the resurgence of the region’s market, particularly in the automotive industry,” said Matt Shulman, a managing director with Rialto. “By working with Friedman, a firm with a strong reputation in leasing and property management services, we are confident that we have a partner with the experience necessary to add value to this office park.”
Plans for the property include extensive renovations of interior corridors and lobbies, exterior landscaping and comprehensive mechanical upgrades to ensure superior energy efficiency. “We are extremely pleased to be awarded the management and leasing at North Troy Corporate Park,” said David Friedman, President and CEO of Friedman Integrated Real Estate Solutions. “The considerable enhancements and upgrades we plan to make coupled with our strong experience in the area will enable us to position this development as the premier office environment for the area’s top corporate users.”
About Friedman Integrated Real Estate Solutions
Friedman Integrated Real Estate Solutions is one of the Midwest’s largest commercial real estate organizations. Friedman offers a full range of services that include: commercial brokerage, property and asset management, investment and loan sale advisory, turnaround management and receivership, space planning and design, construction and project management, graphic design and marketing in addition to a vast array of advisory services. We provide our clients with a single point of contact for the entire range of services we offer.
Friedman represents banks, special servicers, institutions, property owners, national and regional retailers, and commercial tenants in every size range. Friedman manages over 140 facilities encompassing more than 16M SF of commercial and multi-family properties throughout the country.
As owners and managers of commercial property for more than 25 years, Friedman understands what it takes to achieve results that maximize the client’s objectives.