The Farbman Group had managed the properties for the previous owner, Capstone Advisors of San Diego, which sold its share of the buildings earlier this year.
Steven Eisenshtadt, vice president at Friedman, has been appointed primary leasing agent. "There is a lot of excitement in downtown Detroit right now, with all the new real estate developments happening around town," he says. "Several large corporations have recently committed to locate Downtown, such as Compuware, General Motors, EDS, UAW, and H&R Block, indicating to us that Downtown is making a comeback and that other corporations will follow."
LNR, of Miami, is a diversified real estate, finance, and management company.
Completed in 1928, the 47-floor Penobscot Building was the tallest building in Detroit for over 50 years. The building's history is combined with today's modern amenities, including state-of-the-art fiber optic technology, high-speed data transfer, and video conferencing capabilities.
The Penobscot includes Smart-Detroit, a 15,000-sf technology showcasing facility and executive conference center for tenants of the building. Smart-Detroit also includes "Smart Suites," which include 35,000 sf of executive suites equipped with telephone system, high-speed Internet access and other office support functions.
The First National Building, built in 1924, is an 800,000-sf full-service building with fiber-optic technology, video conferencing, and high-speed Internet service. The First National Building accommodates tenants such as Honigman, Miller, Schwartz, and Cohn, LLP, one of the state's largest law firms, and the city's law department.
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