/n FRIEDMAN NEGOTIATES SALE OF MULTIPLE DETROIT PROPERTIES TOTALING OVER 500,000 SQUARE FEET
/n Farmington Hills, Michigan (April 29, 2013) – Friedman Integrated Real Estate Solutions, one of the nation’s leading providers of commercial real estate services, recently negotiated the sale of four flex and office properties totaling 118,000 square feet. Friedman’s total Detroit sales for the first quarter exceed 500,000 square feet. The closed transactions include 1001 Woodward, The Griswold Building, and most recently, 1300 Rosa Parks Drive, 1641 Porter, 1662 and 1654 Abbott.
/n Flagstar Bank, FSB sold 1300 Rosa Parks Drive, 1641 Porter, 1662 and 165 Abbott to MyLocker, LLC. Steve Eisenshtadt, Senior Vice President of Brokerage Services at Friedman, represented the purchaser in this transaction. MyLocker creates custom apparel, and was originally headquartered in Warren, Michigan. After a rapid expansion, the company decided to relocate to a larger office space. Following a similar path that many southeast Michigan companies have taken, MyLocker made the decision to move its headquarters to Detroit, Michigan. “With MyLocker moving its headquarters downtown, they are expected to bring around 200 employees to Detroit,” said Eisenshtadt. “The fact that a suburban company is relocating to an urban setting speaks highly for what’s going on in Detroit.”
/n
/n Detroit is seeing a lot of momentum with investor interest. “People are witnessing Detroit’s renaissance, and they want to invest now while the market is improving,” said David Friedman, President & CEO. Major companies, such as Campbell Ewald, Qucken Loans, Blue Cross, and ADP, have invested in the downtown real estate market. Additionally, several startups such as Chalkfly, an online office supply retailer, and Quikly, an online website promoting local deals, have chosen to progress their companies in the downtown market. “The Detroit real estate market is noting increased activity as it appeals to a variety of industries,” said Eisenshtadt. “Companies like MyLocker, Quicken Loans, ADP, Strategic Staffing Solutions, Blue Cross, GM and Chrysler are just the frontrunners in the efforts to move businesses downtown. I wouldn’t be surprised if we see more companies following in their footsteps in the near future.”
/n
/n ABOUT FRIEDMAN INTEGRATED REAL ESTATE SOLUTIONS
/n Friedman Integrated Real Estate Solutions is recognized as one of the largest privately-held commercial real estate organizations in the nation. 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.
/n
/n 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 7,000 multi-family units across the country. As owners and managers of commercial property for 25 years, Friedman understands what it takes to achieve results that maximize the client’s objectives.
/n
/n For more information, please visit: www.friedmanrealestate.com.
/n
/n Friedman Integrated Real Estate Solutions
/n 34975 W. Twelve Mile Rd.
/n Farmington Hills, Michigan 48331
/n P 248.324.2000
/n www.friedmanrealestate.com
/n
/n Press Contact:
/n Danielle Massell
/n P 248.848.4164
/n E danielle.massell@freg.com
/n
/n