{"id":1004091238,"date":"2014-02-13T07:58:23","date_gmt":"2014-02-13T15:58:23","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=240032"},"modified":"2020-04-07T09:00:09","modified_gmt":"2020-04-07T17:00:09","slug":"friedman-led-jv-grabs-430-ksf-at-arboretum-office-park","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/friedman-led-jv-grabs-430-ksf-at-arboretum-office-park\/","title":{"rendered":"Friedman-led JV Grabs 430 KSF at Arboretum Office Park"},"content":{"rendered":"<p><em>By Veronica Grecu, Associate Editor<\/em><\/p>\n<div id=\"attachment_240033\" class=\"wp-caption alignright\" style=\"width: 310px\"><a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2014\/02\/Arboretum-Office-Park.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-medium wp-image-240033\" title=\"Arboretum Office Park\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2014\/02\/Arboretum-Office-Park.jpg\" alt=\"\" width=\"300\" height=\"144\" \/><\/a><\/p>\n<p class=\"wp-caption-text\">Arboretum Office Park &#8211; Farmington Hills, MI<\/p>\n<\/div>\n<p>Arboretum Office Park, a 600,000-square-foot business complex located at 34405-34605 W. Twelve Mile Road in Farmington Hills, was almost fully sold to a private partnership called Arboretum Acquisitions LLC.<\/p>\n<p>As reported by <em><a href=\"https:\/\/www.crainsdetroit.com\/\" target=\"_blank\" rel=\"nofollow\" article\/20140207\/NEWS\/140209887\/4-buildings-of-arboretum-complex-in-farmington-hills-sell-for-10\">Crain\u2019s Detroit Business<\/a><\/em>, the joint venture between Farmington Hills-based Friedman Integrated Real Estate Solutions and Kojaian Management Corp. of Bloomfield Hills (which was described as a \u201csilent partner\u201d with no leasing, management or construction role in the deal) recently purchased almost three quarters of the business complex in a $10 million transaction that was brokered by Jones Lang LaSalle on behalf of the owner. According to the news source, the asset was previously owned by Burton-Katzman LLC of Bingham Farms.<\/p>\n<p>The Friedman\/Kojaian partnership now owns four office buildings\u2014Arboretum I (115,000 square feet), Arboretum II (129,000 square feet), Arboretum III (163,000 square feet) and Arboretum R (20,000 square feet)\u00ad\u2014totaling around 430,000 square feet of space along the Twelve Mile Corridor in Farmington Hills, just 30 minutes from Downtown Detroit. The four buildings are interconnected by enclosed walkways, allowing for convenient transit throughout the complex. The office spaces available for lease range from 1,000 to 350,000 square feet, including a corporate headquarters facility with visibility from I-696 and Twelve Mile Road. According to an official statement, Friedman plans new landscaping, as well as renovating the buildings\u2019 exteriors and remodeling lobbies with high-end modern finishes.<\/p>\n<p>Arboretum IV, the 114,000-square-foot building that wasn\u2019t included in the sale and is still owned by Burton-Katzman LLC, is 69 percent leased and continues to be managed by Signature Associates Inc. of Southfield, MI.<\/p>\n<p>&nbsp;<\/p>\n<p><em>Image via\u00a0Friedman Integrated Real Estate Solutions<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Arboretum Office Park, a 600,000-square-foot business complex located at 34405-34605 W. Twelve Mile Road in Farmington Hills, was almost fully sold to a private partnership called Arboretum Acquisitions LLC.<\/p>\n","protected":false},"author":258,"featured_media":1004507244,"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":[1815],"class_list":["post-1004091238","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-detroit","category-latest","tag-national"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Friedman-led JV Grabs 430 KSF at Arboretum Office Park - 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\/friedman-led-jv-grabs-430-ksf-at-arboretum-office-park\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Friedman-led JV Grabs 430 KSF at Arboretum Office Park\" \/>\n<meta property=\"og:description\" content=\"Arboretum Office Park, a 600,000-square-foot business complex located at 34405-34605 W. 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