Southfield Crossing II is scheduled for completion in fourth quarter of 2003. The development was a result of Transwestern's collaboration with the city of Southfield and Great Faith Ministries International for a land swap.
Transwestern, on behalf of an institutional investment fund, purchased a 30-acre parcel from Great Faith Ministries and immediately transferred title to the City of Southfield in exchange for an underutilized five-acre city park known as Optimist Park, adjacent to Transwestern's existing development, Southfield Crossing I. The result provided Southfield with parkland, Great Faith Ministries with funds to build a new church, and Transwestern with additional developable land for Southfield Crossing II.
William Harvey, Transwestern SVP, negotiated the property transfer, and will be responsible for the development and leasing of the project.
The company specializes in corporate advisory, investment services, development, research, property and facilities management and leasing services for office, industrial and retail projects throughout the U.S.
© Arc, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to TMSalesOperations@arc-network.com. For more information visit Asset & Logo Licensing.