Farmington Hills, Michigan (March 25, 2013) – Friedman Integrated Real Estate Solutions, one of the nation’s premier providers of commercial real estate services, announced that it has brokered the sale of 1001 Woodward, a 23-story, 275,000 square foot mix-use skyscraper located in Detroit, and The Griswold Building, a 12-story mixed use building located at 1214-1230 Griswold in Downtown Detroit’s Capitol Park district. David B. Friedman, President & CEO represented the buyer, Rock Ventures, in the transaction of 1001 Woodward, and the buyer in the transaction of the Griswold Building.
Built in 1965, 1001 Woodward is known for its unique exterior façade consisting of tinted windows set in granite frames. The building was designed by Detroit-based SmithGroup, and was originally occupied by the First Federal Savings and Loan of Detroit. The building now features retail space on the first floor, and is currently occupied by GalaxE. Solutions, Meridian Health Plan, and the University of Phoenix. Quicken Loans is expected to be leasing an additional 65,000 SF of the building. “The buying plan for Downtown Detroit continues with this sale,” said David Friedman, President & CEO. “This building contributes to the nearly 3 million SF Rock Ventures has purchased and renovated.”
Designed by famed architect Albert Kahn in the Art Moderne style, The Griswold building originally served as an office building when first constructed in 1929. Inducted to the National Register of Historic Places in 1980 the building soon afterwards was converted into a senior-housing apartment building. The building is comprised of 127 one-bedroom apartments and 14,000 SF of ground-floor retail “Increased demand for Downtown housing combined with continued development of the Campus Martius and Capitol Park districts make the area the ideal location for residents to live, work and play,” said Friedman.
ABOUT FRIEDMAN INTEGRATED REAL ESTATE SOLUTIONS
Friedman Integrated Real Estate Solutions is recognized as one of the largest privately-held commercial real estate organizations in the nation. Friedman offers a full range of services that include: commercial brokerage, property and asset management, investment and loan sale advisory, turnaround management and receivership, space planning and design, construction and project management, graphic design and marketing in addition to a vast array of advisory services. We provide our clients with a single point of contact for the entire range of services we offer.
Friedman represents banks, special servicers, institutions, property owners, national and regional retailers, and commercial tenants in every size range. Friedman manages over 140 facilities encompassing more than 16M SF of commercial and 7,000 multi-family units across the country. As owners and managers of commercial property for 25 years, Friedman understands what it takes to achieve results that maximize the client’s objectives.
For more information, please visit: www.friedmanrealestate.com.