FRIEDMAN SELLS A 165,016 SF OFFICE/FLEX PARK IN FARMINGTON HILLS, MI
Farmington Hills, Michigan (March 3, 2016) – Friedman Integrated Real Estate Solutions, one of the nation’s leading providers of commercial real estate services, recently sold Discovery Centre, a 165,016 square foot 3-building office/flex park, located at 39205, 39255, 39303 Country Club Drive, in Farmington Hills, Michigan. The seller, Garrison Investment Group LP, sold the building to Haggerty 4, LLC.
The surrounding area is home to numerous flex/research/development parks, corporate headquarters, and engineering facilities, including The Bosch Group’s North American Headquarters and Nissan’s Tech Center. Other notable Farmington Hills corporate residents include Mercedes Benz Financial, North American Lighting, Panasonic Automotive, Harman International, TRW, TD Auto Finance, as well as the Suburban Collection Showplace. The lender-owned park had an occupancy rate of 81.4%, and provided potential investors the opportunity to add value through continued lease up and rental growth. Industrial, office, and flex properties in the corridor have attracted the attention of local and national investors as they fill with local, regional, and national tenants servicing the automotive, medical, and technology industries.
Rich Deptula, National Director, Investment Advisory Services, represented the seller and Todd Hawley, Senior Vice President, Brokerage Services at Friedman represented the buyer in this transaction.
ABOUT FRIEDMAN INTEGRATED REAL ESTATE SOLUTIONS
As one of the largest privately-held full-service 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 Advisory, Property Management, Brokerage and Construction services that it offers.
Friedman manages more than 140 commercial properties encompassing more than 16M SF and more than 10,000 apartment homes throughout the United States. Friedman’s brokerage team has over 800 current listings with $10 billion in closed transactions. As owners and managers of commercial property for 30 years, Friedman understands what it takes to achieve results that maximize their clients’ objectives.
For more information, please visit: friedman.test.grit313.com.
Posted by Friedman Research Team March 3, 2016