P.A. Commercial closed the sale of Northwood Corporate Park, a trophy office property outside of the CBD in Northville, Michigan.
The offering was 100% leased with a 6.4-year WALE (weighted average lease expiry) and recently closed for $5.65 million.
Located at 41700-41860 Six Mile Rd in Northville, this property consists of four single-story office buildings totaling 48,040 square feet in a tranquil, wooded area. Each building is approximately 12,010 square feet with a flexible design to accommodate single or multiple tenancies. Northwood’s long-term tenants include two law firms, an insurance agency, an engineering firm, medical arts, and other business services.
P.A. Commercial’s founding member, Peter Ventura represented the seller, Fausone Bohn, LLP, a long-time client who has owned the office park since 2012. Daniel Blugerman, Senior Associate, also from P.A. Commercial, brought the buyer, Manhattan Investment Properties.
The Buyer is a well-established office investor who asked for assistance in placing the proceeds from his 1031 Tax Deferred Exchange, which was the equity source for the purchase.
