Farmington Hills, Michigan (June 23, 2016) Friedman Integrated Real Estate Solutions, one of the nations leading providers of commercial real estate services, recently sold, Highland Town Center, a 45,538 square foot retail center located at 2780-2880 East Highland Road, in Highland Township, Michigan. The seller, CGMT 2006-C5 Retail 2880, LLC, sold the building at auction through Ten-X.com to North Michigan Hospitality, Inc. Rich Deptula, National Director, Investment Advisory Services at Friedman represented both the seller and the purchaser in this transaction.
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/nSituated on a 7.74 acre site, Highland Town Center is comprised of three buildings, including one in-line multi-tenant building, one single-tenant building, and one two-tenant building. The retail center contains a free standing Rite Aid, is anchored by ACE Hardware, and is ideally located on Highland Road (M-59), a major east/west roadway in North Oakland County spanning from I-94 to I-96.
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/nThis was an excellent investment opportunity considering the barriers to entry due to its location adjacent to the Highland State Recreation Area and its variety of local, regional and national tenants, with average continuous lease terms of 24.5 years, said Deptula.
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/nABOUT FRIEDMAN INTEGRATED REAL ESTATE SOLUTIONS
/nAs 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.
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/nFriedman manages more than 140 commercial properties encompassing more than 16M SF and more than 10,000 apartment homes throughout the United States. Friedmans 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.
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/nFor more information, please visit: www.friedmanrealestate.com.
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