Michigan office building changes hands

Friedman negotiates investment sale of 100,000 square feet

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Friedman Real Estate Group Inc. recently negotiated the investment sale of 150 Stephenson, a 103,253-square-foot class A office building in Troy, Mich. The value of the transaction was not disclosed. The property is located at 150 Stephenson Highway in Troy. The seller, 150 Stephenson, LLC, managed by ING Clarion Partners, sold the REO asset to Westminster Troy LLC, a Chicago-based investment company. Friedman was hired by ING to manage, lease and sell the office building, which is part of a three-building office complex formerly occupied by Collins & Aikman. At the time of sale, the property was fully occupied by Valeo, which had recently entered into a new lease agreement for the property. Finsilver Friedman Management Corp. will continue to manage the property for the new owner. Vice President Barry Swatsenbarg, Associates Scott Barrie, and Richard Deptula of Friedman Real Estate Group represented both the buyer and seller in this transaction. Friedman Real Estate Group is a com...