Friedman Real Estate has 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 complete a massive interior abatement, demolition and rebuild project. Upon total build-out, there will be 201 multifamily units spreading across 14 stories with views of Detroit’s skyline and the Detroit River.
The site consists of 12.8 acres, leaving room for future development. The project is estimated to take 24 to 30 months to complete.
The Southgate Tower is 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.
