The 15-year-old building was 100% leased at the time of sale with tenants including Republic Bank and Rubenfaer & Associates, P.C. Thebuilding offers surface parking as well as 62 covered spaces. Terms of the sale were not disclosed.
"Periodically, we strategically sell assets so that we may redeploy the capital," says Douglas Etkin, a principal of the company. "With the current economic uncertainty, particularly on Wall Street, and the availability of favorable financing, high-performing office properties have emerged as excellent investment options."
Etkin Equities is one of Southeast Michigan's owners and developers of income properties with a portfolio that includes 6.6 million sf ofoffice, retail, light industrial and hotels.
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