{"id":1004051544,"date":"2012-03-21T08:08:39","date_gmt":"2012-03-21T16:08:39","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=40814"},"modified":"2022-12-05T14:40:29","modified_gmt":"2022-12-05T22:40:29","slug":"leed-certified-fairlane-green-changes-hands-for-47-m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/leed-certified-fairlane-green-changes-hands-for-47-m\/","title":{"rendered":"LEED-Certified Fairlane Green Changes Hands for $47 M"},"content":{"rendered":"<p style=\"text-align: justify\">By Veronica Grecu, Associate Editor<\/p>\n<p style=\"text-align: justify\">Phoenix, AZ-based Cole Real Estate Investments recently paid $47 million for a 270,000-square-foot retail power center located in a historically strong corridor in Allen Park, south of Detroit. Opened in 2005, the retail center is almost 100 percent leased and most of its tenants are national retailers, making Fairlane Green consistent with the company\u2019s investment strategy, said Scott M. Holmes, senior vice president, acquisitions and multi-tenant retail at Cole Real Estate Investments.<a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2012\/03\/Fairlane-green.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-full wp-image-40826\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2012\/03\/Fairlane-green.jpg\" alt=\"\" width=\"249\" height=\"166\" \/><\/a><\/p>\n<p style=\"text-align: justify\">Fairlane Green is currently housing a number of prime retailers with above national economic performances; among them are TJ Maxx, Bed Bath &amp; Beyond, Barnes &amp; Noble, Michael\u2019s, Old Navy, Ulta, Pier 1 Imports, The Gap, Five Below, Famous Footwear, Panera Bread, Bath &amp; Body Works, Dressbarn and Carter\u2019s, while some restaurants such as On the Border, Chili\u2019s and Longhorn Steakhouse operate on the center\u2019s ground floor.<\/p>\n<p style=\"text-align: justify\">According to <em>The News-Herald<\/em>, the seller was a group of three companies \u2013 Lormax Stern Development Co. of West Bloomfield, Konover South LLC of Deerfield Beach, Fla., and FVP Management &amp; Investments of Miami Lakes, Fla.\u2014who were represented in the transaction by Ben Wineman, principal of Mid-America Real Estate Corporation of West Bloomfield. Cole Real Estate Investments is now the owner of all retail space above ground while the space underneath (the former Ford Motor Company Allen Park Clay Mine Landfill) is still owned by Ford Land, a wholly owned subsidiary of Ford Motor Company acting as a full-service provider of real estate, construction and facility services.<\/p>\n<p>In July 2006, after a complex brownfield redevelopment process carried by developer VCC and then-owner Archon Group, Fairlane Green was granted a Gold LEED Certification by the U.S. Green Building Council and it became the first multi-tenant retail project in the country to receive such an award.<\/p>\n<p style=\"text-align: justify\">Founded in 1979, Cole Real Estate Investments has become one of the most active acquirers of core real estate assets. The company\u2019s recent multi-tenant acquisitions include the 219,000-square-foot Kyle Marketplace in Kyle, TX, which was purchased for $45 million; the 153,000-square-foot Cleveland Town Center in Cleveland, TN, bought for $17.65 million; and the 167,000-square-foot Midtowne Park in Anderson, SC, for which the company paid $25.6 million. The company owns and manages a $10 billion portfolio of properties representing approximately 60 million square feet of commercial real estate in 47 states.<\/p>\n<p style=\"text-align: justify\"><em>Photo credits Cole Real Estate Investments via PRWeb<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Veronica Grecu, Associate Editor<br \/>\nPhoenix, AZ-based Cole Real Estate Investments recently paid $47 million for a 270,000-square-foot retail power center located in a historically strong corridor in Allen Park, south of Detroit. Opened in 2005, the retail center is almost [&#8230;]<\/p>\n","protected":false},"author":258,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1495,21742],"tags":[],"class_list":["post-1004051544","post","type-post","status-publish","format-standard","hentry","category-detroit","category-latest"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>LEED-Certified Fairlane Green Changes Hands for $47 M - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/leed-certified-fairlane-green-changes-hands-for-47-m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"LEED-Certified Fairlane Green Changes Hands for $47 M\" \/>\n<meta property=\"og:description\" content=\"By Veronica Grecu, Associate Editor Phoenix, AZ-based Cole Real Estate Investments recently paid $47 million for a 270,000-square-foot retail power center located in a historically strong corridor in Allen Park, south of Detroit. Opened in 2005, the retail center is almost [...]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/leed-certified-fairlane-green-changes-hands-for-47-m\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2012-03-21T16:08:39+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-05T22:40:29+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2012\/03\/Fairlane-green.jpg\" \/>\n<meta name=\"author\" content=\"Veronica Grecu\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@VeraGrecu\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/leed-certified-fairlane-green-changes-hands-for-47-m\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/leed-certified-fairlane-green-changes-hands-for-47-m\/\",\"name\":\"LEED-Certified Fairlane Green Changes Hands for $47 M - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/leed-certified-fairlane-green-changes-hands-for-47-m\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/leed-certified-fairlane-green-changes-hands-for-47-m\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2012\/03\/Fairlane-green.jpg\",\"datePublished\":\"2012-03-21T16:08:39+00:00\",\"dateModified\":\"2022-12-05T22:40:29+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/e8362e8641769829162f16fe58091f62\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/leed-certified-fairlane-green-changes-hands-for-47-m\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/leed-certified-fairlane-green-changes-hands-for-47-m\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/leed-certified-fairlane-green-changes-hands-for-47-m\/#primaryimage\",\"url\":\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2012\/03\/Fairlane-green.jpg\",\"contentUrl\":\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2012\/03\/Fairlane-green.jpg\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/leed-certified-fairlane-green-changes-hands-for-47-m\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.commercialsearch.com\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"LEED-Certified Fairlane Green Changes Hands for $47 M\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/e8362e8641769829162f16fe58091f62\",\"name\":\"Veronica Grecu\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/04\/Veronica_Grecu.jpg?w=93\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/04\/Veronica_Grecu.jpg?w=93\",\"caption\":\"Veronica Grecu\"},\"description\":\"Veronica Grecu is a senior creative writer and researcher for RentCafe. With more than 10 years of experience in the real estate industry, she covers a variety of topics in residential and commercial real estate, including trends and industry news. Previously, she was involved in producing content for Multi-Housing News, Commercial Property Executive and Yardi Matrix. Veronica\u2019s academic background includes a B.A. in Applied Modern Languages and an M.A. in Advertising and PR.\",\"sameAs\":[\"https:\/\/x.com\/@VeraGrecu\"],\"url\":\"https:\/\/www.commercialsearch.com\/news\/author\/veronica\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"LEED-Certified Fairlane Green Changes Hands for $47 M - Commercial Property Executive","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.commercialsearch.com\/news\/leed-certified-fairlane-green-changes-hands-for-47-m\/","og_locale":"en_US","og_type":"article","og_title":"LEED-Certified Fairlane Green Changes Hands for $47 M","og_description":"By Veronica Grecu, Associate Editor Phoenix, AZ-based Cole Real Estate Investments recently paid $47 million for a 270,000-square-foot retail power center located in a historically strong corridor in Allen Park, south of Detroit. Opened in 2005, the retail center is almost [...]","og_url":"https:\/\/www.commercialsearch.com\/news\/leed-certified-fairlane-green-changes-hands-for-47-m\/","og_site_name":"Commercial Property Executive","article_publisher":"https:\/\/www.facebook.com\/CPExecutive","article_published_time":"2012-03-21T16:08:39+00:00","article_modified_time":"2022-12-05T22:40:29+00:00","og_image":[{"url":"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2012\/03\/Fairlane-green.jpg","type":"","width":"","height":""}],"author":"Veronica Grecu","twitter_card":"summary_large_image","twitter_creator":"@VeraGrecu","twitter_site":"@cpexecutive","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.commercialsearch.com\/news\/leed-certified-fairlane-green-changes-hands-for-47-m\/","url":"https:\/\/www.commercialsearch.com\/news\/leed-certified-fairlane-green-changes-hands-for-47-m\/","name":"LEED-Certified Fairlane Green Changes Hands for $47 M - Commercial Property Executive","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/leed-certified-fairlane-green-changes-hands-for-47-m\/#primaryimage"},"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/leed-certified-fairlane-green-changes-hands-for-47-m\/#primaryimage"},"thumbnailUrl":"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2012\/03\/Fairlane-green.jpg","datePublished":"2012-03-21T16:08:39+00:00","dateModified":"2022-12-05T22:40:29+00:00","author":{"@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/e8362e8641769829162f16fe58091f62"},"breadcrumb":{"@id":"https:\/\/www.commercialsearch.com\/news\/leed-certified-fairlane-green-changes-hands-for-47-m\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.commercialsearch.com\/news\/leed-certified-fairlane-green-changes-hands-for-47-m\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/leed-certified-fairlane-green-changes-hands-for-47-m\/#primaryimage","url":"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2012\/03\/Fairlane-green.jpg","contentUrl":"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2012\/03\/Fairlane-green.jpg"},{"@type":"BreadcrumbList","@id":"https:\/\/www.commercialsearch.com\/news\/leed-certified-fairlane-green-changes-hands-for-47-m\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.commercialsearch.com\/news\/"},{"@type":"ListItem","position":2,"name":"LEED-Certified Fairlane Green Changes Hands for $47 M"}]},{"@type":"WebSite","@id":"https:\/\/www.commercialsearch.com\/news\/#website","url":"https:\/\/www.commercialsearch.com\/news\/","name":"Commercial Property Executive","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/e8362e8641769829162f16fe58091f62","name":"Veronica Grecu","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/04\/Veronica_Grecu.jpg?w=93","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/04\/Veronica_Grecu.jpg?w=93","caption":"Veronica Grecu"},"description":"Veronica Grecu is a senior creative writer and researcher for RentCafe. With more than 10 years of experience in the real estate industry, she covers a variety of topics in residential and commercial real estate, including trends and industry news. Previously, she was involved in producing content for Multi-Housing News, Commercial Property Executive and Yardi Matrix. Veronica\u2019s academic background includes a B.A. in Applied Modern Languages and an M.A. in Advertising and PR.","sameAs":["https:\/\/x.com\/@VeraGrecu"],"url":"https:\/\/www.commercialsearch.com\/news\/author\/veronica\/"}]}},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004051544","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/users\/258"}],"replies":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/comments?post=1004051544"}],"version-history":[{"count":1,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004051544\/revisions"}],"predecessor-version":[{"id":1004617398,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004051544\/revisions\/1004617398"}],"wp:attachment":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media?parent=1004051544"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/categories?post=1004051544"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/tags?post=1004051544"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}