By Roxana Baiceanu
Friedman Real Estate has arranged the sale of a 22,000-square-foot industrial building in Madison Heights, Mich. The previous owner, Kam Kam Holdings, sold the property to Ajax Real Estate Holdings, both of them being LLCs. The listing price was $949,000 or $43.1 per square foot, as shown on Friedman’s website.
Previously known as the Madison Athletic Club, the property used to operate as a full service gym. “It is now fully repurposed for specialty food manufacturing and distribution space,” said Associate Steven Silverman, one of the brokers who represented the seller in the transaction, in a prepared statement. The other broker involved in the negotiations was Joel Kestenberg, also an associate with Friedman.
Located at 2 Ajax Drive, the facility was completed in 1978 on a 1.7-acre lot and has direct access and exposure off John R Road. The asset features 20-foot ceilings and a parking lot accommodating up to 65 vehicles.
Image via Google Street View