DETROIT-A local printing company has purchased an 8,160-sf freestanding building for $140,000. The property, which was listed at $165,000, will be used to help the company, Bayard Kurth Co. expand its services.
Located at 6340 E. Nevada St., the property was on the market for about a year before an offer came in. "That was the first and only offer, and we took it," says Alan Holt, a broker with Grubb & Ellis Co.'s Detroit office. Holt represented both the buyer and seller, Birmingham-based RDM Holdings, Ltd. in the transaction. Jack Coury, senior vice president, industrial group, with Grubb & Ellis' Detroit office, also represented the seller.
Holt tells GlobeSt.com that the property, located in an industrial area of East Detroit, won't require much in the way of improvements on the buyer's part. "They'll probably make some cosmetic changes, such as carpet in the office and painting, that type of thing," he says. "But otherwise, it's a structurally sound building." Long-time printer Bayard Kurth is located on 7271 Dix St. RDM Holdings is a financial/investment services company.
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