The hospital, based in Royal Oak, MI, needed a central locationfor administrative functions such as purchasing and trainingdepartments, Drake-Batts tells "They have threehospital locations, in Royal Oak, north Troy and Gross Pointe, andwe looked at all the surrounding communities and this building isdirectly in the center," she says. The company also has othersatellite offices, such as in a building on Stephenson Highwaybetween 14 Mile and 15 Mile roads, she says.


A few months ago, Drake-Batts arranged another 35,000-sf leasefor Champion Enterprises in the National City building, named afterits main tenant and owned by Kojaian Cos."We've brought it up to76% occupied, with some renovations completed a couple years ago.I'm working on putting in another tenant right now," she says. Thelease rate at the glass curtain-wall building ranges from $17.50 onthe first two floors to $22.50 for the top floors.


She says the building, a standout icon along I-75, has been easyto lease since rates have dropped due to the economy. "The vacancyrate in Troy is high, there's now so many great deals. It's anexcellent time to renew or relocate," Drake-Batt says.


The current vacancy rate is now higher than 25% in Troy,according to a Grubb & Ellis market report. Both Troy andSouthfield have high vacancy, but they are also the two largestmarkets, at 13 million sf and 16 million sf, respectively. TheDetroit Downtown, at about 12 million sf, has the largest vacancyrate at almost 28%.

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