CBRE recently represented a joint venture between the United Auto Workers and General Motors in the sale of the approximately 420,000-square-foot UAW-GM Center for Human Resources at 200 Walker St. in Detroit.
The buyer, M & M Iconic Venture LLC, purchased the property for an undisclosed amount. Principles include Dominic, Mario and Frank Moceri as well as Christos Moisides. Brendan George and Jasper Hanifi of CBRE represented the joint venture between the United Auto Workers and General Motors. Lino and Michael Scamardella of Lino Realty represented the buyer.
Located along the Detroit River Walk, the property was constructed in the early 2000s and has hosted only one occupant since completion. Surrounded by an abundance of green space, the property offers access to downtown Detroit and area freeways. With 900 underground parking spaces, it is very convenient for on-site workers.
“This will be one of the most significant transactions of the year in Detroit and it demonstrates the long-term confidence that investors have in this market,” said CBRE’s George. “There was a lot of interest in this offering as there is so much potential for this site and this property. Opportunities like this don’t come around very often and the market responded.”
The property boasts on-site amenities including a full-service kitchen and commissary with dedicated dining area, a 375-person auditorium with full AV facilities, a conference center with flexible room sizes, a full fitness center with dedicated men’s and women’s locker rooms and an 8th-floor outdoor terrace that surrounds the entire building and offers spectacular river and city views.
