TROY, MI-Emmes Asset Management Co. LLC has hired CB Richard Ellis to market its 1.2-million-sf Baluster Park, a 50%-occupied property that the New York City-based firm purchased in December for more than $83 million. The company also is moving forward on plans for more than $10 million in upgrades to the property, according to a spokeswoman.

The property had been called North Troy Corporate Park until Emmes bought the site, says Mark Collins with CBRE. Since then, the property lost almost 500,000 sf when EDS moved out and over to the GM-owned CenterPoint park in Pontiac. However, Siemens recently signed about 51,000 sf on two floors in Thatcher Centre, at 5555 New King, one of eight of the buildings on the campus. Collins tells that he’s negotiating with firms for another 300,000 sf of leases. “Emmes is really taking a hands-on approach, and have worked hard to put together an identity for the property. For example, all the buildings have been renamed after bridges, such as the Thatcher is named after a bridge in Balboa, Panama, and the Marlowe Centre is named after a bridge in the UK.”

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