Friedman Real Estate is pleased to announce that Andrew Bower, Steve Eisenshtadt, and Peter Jankowski completed the sale of the former First Independence Bank building located at 100 Michigan Avenue in Detroit, Michigan. Friedman Real Estate represented the seller in this transaction.
The 20,756-square-foot retail building sold for $3,875,000, marking a significant transaction in Detroit’s central business district. This property offers prime visibility and accessibility, making it an attractive asset for future redevelopment or retail use.
About the Property
- Address: 100 Michigan Avenue, Detroit, MI
- Size: 20,756 SF
- Sale Price: $3,875,000
- Asset Type: Retail / Former Bank Building
Located in the heart of downtown Detroit, this property benefits from strong foot traffic, proximity to major employers, and easy access to public transportation. Its strategic location positions it as a valuable investment opportunity in one of Michigan’s most dynamic markets.
Friedman Real Estate’s Role
Friedman Real Estate represented the seller, leveraging its deep market knowledge and extensive network to achieve a successful outcome. Our team specializes in retail property sales, providing clients with expert guidance and tailored strategies to maximize value.
Detroit’s Retail Market Outlook
Detroit continues to experience revitalization, attracting investors and developers seeking opportunities in retail, mixed-use, and adaptive reuse projects. Key drivers include:
- Urban Growth: Expanding residential and commercial developments
- Strong Demand: Increased interest in downtown retail spaces
- Investment Potential: Competitive pricing and long-term appreciation
This transaction underscores Friedman’s ability to navigate complex deals and deliver results in competitive markets.
About Friedman Real Estate
Friedman Real Estate is one of the nation’s leading full-service commercial real estate firms, offering:
- Brokerage Services: Retail, office, industrial, and multifamily
- Property Management: Comprehensive solutions for property owners
- Advisory Services: Market insights and strategic planning
Our client-first approach ensures every transaction is handled with professionalism and precision.
Looking to Buy or Sell Retail Properties in Detroit?
Contact Friedman Real Estate today to learn how our brokerage team can help you achieve your real estate goals.
