Farmington Hills, MI – (April 18, 2022) Friedman Real Estate is pleased to announce that they have sold the Southgate Tower in Southgate, Michigan as a mixed-use development opportunity that will allow for mixes of residential, retail, office, and hotel.
The purchaser, Southgate Tower, LLC will undertake a massive interior abatement, demolition, and rebuild project. Upon total build-out, there will be 201 multi-family units spreading across 14 stories with outstanding views of Detroit’s skyline and the Detroit River. The site consists of 12.8 acres, leaving room for future development (currently unplanned). The project is estimated to take 24 – 30 months to complete.
Alex Begin, of Southgate Tower, LLC says, “This acquisition represents enormous opportunities for the city of Southgate, and we’re excited to find the perfect ways to utilize the space and enhance this part of the city.”
The Southgate Tower is the tallest building Downriver, and a long-vacant former bank office building just 20 minutes south of Detroit’s Central Business District. The site is surrounded by national retailers such as Meijer, Lowe’s, Kroger, restaurants, financial institutions, and residential properties. Friedman’s Andrew Ledger represented the buyer in the transaction.
about Friedman real estate
As one of the largest privately-held full-service commercial real estate organizations in the nation, Friedman Real Estate provides clients with a single point of contact for the full range of Advisory, Property Management, Multi-Family, Brokerage, and Construction services that it offers.
Friedman manages more than 140 commercial properties encompassing more than 15M SF and more than 13,000 apartment homes throughout the United States. Friedman’s brokerage team has over 800 current listings with $20 billion in closed transactions. As owners and managers of commercial property for over 30 years, Friedman understands what it takes to achieve results that maximize their clients’ objectives. Additional information is available at friedmanrealestate.com and on LinkedIn, Facebook, Instagram, YouTube, and Twitter.