Newmark Knight Frank vet closes several industrial deals in Detroit market

Newmark Knight Frank senior managing director Tom Oldham, working from the company’s Detroit office, recently completed multiple industrial sales in excess of 350,000 square feet. All of the transactions were completed during the third quarter of 2017.

In the first transaction, Oldham arranged the successful purchase of 11800 Sears in Livonia, Michigan, a 99,937-square-foot industrial warehouse. Oldham represented the buyer, Sears Drive Properties, LLC, in the off-market, $4.6 million acquisition. FR Sears Drive, LLC was the seller.

Oldham also successfully arranged the off-market sale of 35901 Veronica, a 92,000-square-foot warehouse facility in Livonia. Oldham represented the buyer, CMS Michigan, LLC, in the transaction valued at $4.775 million. The seller, Twin Kids, LLC, was self-represented.

The sale of 12841 Stark in Livonia was also successfully arranged by Oldham along with NFK Executive Managing Director Dan Labes. Oldham and Labes represented the seller, DTE, LLC in its disposition of the asset. The 85,000-square-foot facility was sold to 12841 Stark Road, LLC for $3.196 million.