Farmington Hills, Michigan (May 9, 2014) – Friedman Integrated Real Estate Solutions, one of the nation’s leading providers of commercial real estate services, recently sold a 75,286 square foot Class A office building in Farmington Hills, Michigan. Barry Swatsenbarg, National Director, Investment & Loan Sale Advisory Services, and Rich Deptula, Senior Vice President, Investment and Loan Sale Advisory Services, represented the seller at auction. The purchaser, WP Carey, is a corporate financing firm that is headquartered in New York City.
Located at 36600 Corporate Drive in the Farmington Hills Corporate Campus, a six-building office park totaling 820,000 square feet in Farmington Hills, one of Metro Detroit’s premium office submarkets. Campus residents include Mercedes Benz, Greenpath Debt Solutions, and Panasonic. Built in 2001 on an 8.22-acre site, the property is comprised of a one and two-story single-tenant office building with two wings accessed by a common reflective glass lobby. This stable property with exceptional demographics is easily accessible to major transportation routes (I-696, I-96, I-275, M-5, M-10/Lodge and Northwestern Highway) and area amenities. The building is currently 100% leased to North American Lighting, Inc., the largest non-affiliated lighting supplier in North America, under a twelve-year, triple net lease. Amenities include a 25,000 square foot auditorium, lab space, and abundant parking.
“This property is an excellent investment opportunity. It offers investors the unique ability to acquire an exceptional, well-located, and stable suburban office building that is currently 100% leased,” said Swatsenbarg.
Farmington Hills is a major business center for the greater Detroit area in affluent Oakland County, positioned 23 miles northeast of downtown Ann Arbor and 21 miles northwest of the Detroit CBD.
ABOUT FRIEDMAN INTEGRATED REAL ESTATE SOLUTIONS
Recognized as one of the largest privately-held commercial real estate organizations in the nation, Friedman Integrated Real Estate Solutions provides clients with a single point of contact for the full range of services it offers.
Friedman manages over 140 facilities encompassing more than 16M SF of commercial and 7,000 multi-family units across the country. Friedman’s brokerage team has over 800 current listings with $10 billion in closed transactions. As owners and managers of commercial property for 25 years, Friedman understands what it takes to achieve results that maximize the client’s objectives.
For more information, please visit: www.friedmanrealestate.com.
