Colliers closed the sale of Huntington Tower at 2025 Woodward Ave. in downtown Detroit.
The transaction reinforces the city’s emerging status as a destination for institutional capital and establishes a new benchmark for large-scale, investment-grade net-leased assets.
Raymond Jonna, Senior Vice President and net lease specialist at Colliers, served as the sole broker in the transaction, representing both the buyer and the seller, The Herrick Company, a Florida-based investment firm.
“This transaction required navigating a sophisticated financing structure and multi-phase negotiations,” said Jonna. “As an institutional-grade net lease credit deal, it required aligning complex debt mechanics with the long-term investment strategies of both parties. A transaction of this scale is a testament to the strength and continued evolution of Detroit’s capital markets.”
Completed in 2022, the 21-story, approximately 311-foot-tall Class-A tower includes 203,300 square feet of modern office space across ten floors, ten levels of structured parking, a ground-floor bank and lobby, collaborative workspaces, and flexible floor plates designed to accommodate up to 800 employees. The tower blends modern architecture with the city’s historic skyline and is located across from Comerica Park in the heart of The District Detroit.
The asset is secured by a long-term net lease to Huntington Bancshares, an investment-grade regional banking institution with more than $200 billion in assets and over 1,000 branches nationwide.
