The 40,000-square-foot BEI Building in the central business district has sold to Mark Campbell, CEO of the Southfield-based Detroit Trading Co., for around $1 million.
Located at 601 W. Fort St., between Second and Third streets, the building was built in 1910 and was owned by Detroit-based Mobile Parking Systems Ltd., according to Washington, D.C.-based real estate information service CoStar Group Inc.
Mobile Parking Systems bought the four-story building in 2012 for $400,000 from David Findling, partner in the Royal Oak-based Findling Law Firm, according to CoStar.
The sale closed Monday, according to CoStar.
A message left with Campbell had not been returned by late Tuesday afternoon.
Steve Eisenshtadt, the vice president of brokerage services for Farmington Hills-based Friedman Integrated Real Estate Solutions LLC who represented the buyer and seller, said Campbell is a Detroit area native who plans to renovate the BEI and continue using it as an office building.
It’s Campbell’s first commercial real estate purchase in the city, although he has properties in other states, Eisenshtadt said.
Tenants include National Faith HomeBuyers (4,800 square feet) and the Detroit Land Development & Holding Co. LLC (2,800 square feet), according to CoStar.
Eisenshtadt said the building is about 20 percent leased.
Formerly the Blount Building, the BEI Building was renamed in 1995 when BEI Associates Inc., an architectural and engineering company, moved there from the Madden Building.
