Farmington Hills, Michigan (January 6, 2015) Friedman Integrated Real Estate Solutions, one of the nations leading providers of commercial real estate services, recently sold Elmwood Park Plaza, a 48,109 SF neighborhood retail center located at 550-700 Chene Street in Detroit, Michigan. Standards Investment III, LLC purchased the building.
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/nThe centers anchor tenant is Family Fair Market, a Spartan-brand grocer. Constructed in 1974 on ±3.4 acres of land, the center is positioned in a highly-developed area just east of the Detroit CBD and adjacent to the 18-story Elmwood Park Apartments.
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/nBarry Swatsenbarg, National Director, Investment and Loan Sale Advisory Services, and Richard Deptula, Senior Vice President, Investment and Loan Sale Advisory Services at Friedman represented both the seller and the purchaser in this transaction.
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/nABOUT FRIEDMAN INTEGRATED REAL ESTATE SOLUTIONS
/nRecognized 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.
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/nFriedman manages over 140 facilities encompassing more than 16M SF of commercial and over 8,000 multi-family units across the country. Friedmans brokerage team has over 800 current listings with $10 billion in closed transactions. As owners and managers of commercial property for over 25 years, Friedman understands what it takes to achieve results that maximize the clients objectives.
/nFor more information, please visit: www.friedmanrealestate.com.
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/nAmber Decker
/nP 248.848.3523
/nE amber.decker@freg.com
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