The three-story facility was built in 1999 and purchased by Piedmont Office Realty Trust in 2000. Damian Miller, director of asset management for Piedmont, tells GlobeSt.com that the company is still seeking more tenants for the building. "It's great to have such a quality tenant as Travelers," he says. "The previous tenant moved out in January. I think this quick lease is evidence that there's still activity in the marketplace."
He said he couldn't disclose the lease rate for the new lease. The space is offered for $14.75 per sf, triple net, according to the Transwestern Web site. Casey Powell with Transwestern represented Piedmont on the recent lease, while Scott Goldman and Brian Piergentili with Equis Corp. represented the tenant.
The owner has three other office properties in the Detroit area: The 210,000-sf 1075 W. Entrance building and the 119,000-sf 900 N. Squirrel Rd. facility in Auburn Hills, and the 493,266-sf 150 W. Jefferson Ave. building in Downtown Detroit. The properties owned by the Norcross, GA-based company are 94% leased, said company officials in a statement.
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