By Alexandra Pacurar
Friedman Integrated Real Estate Solutions was appointed as manager of the historic 23-story Ford Building in Downtown Detroit. The 202,686-square-foot office building is the city’s second oldest skyscraper. Friedman’s management, space planning and construction divisions will work with the tower’s owner, Ford Building Rino LLC.
“We have a lot of experience successfully managing historic high-rises in downtown Detroit and look forward to continuing that tradition with the Ford Building. The Ford Building’s ideal location provides a great opportunity for tenants looking to be in the center of it all,” said Chuck Delaney, executive managing director at Friedman, in prepared remarks.
Sold twice in 2017
The office property is located at 615 Griswold St., at the intersection with Congress Street, in the heart of Detroit’s financial district. The Ford Building offers twenty four-hour banking, a conferencing facility, convenience store, on-site management and a restaurant.
The iconic downtown tower changed ownership twice this year. According to Yardi Matrix, The Sterling Group acquired the property in February for $12 million. Sterling sold it six months later, in July, to Ford Building Rino LLC, as shown by public records. The last deal involved an $11 million loan.
Recently, Friedman expanded its Michigan property management portfolio with two office properties in Auburn Hills.
Image courtesy of Yardi Matrix