The buyer, Sabah Marougy, purchased the fully leased 15,500 sf medical building and accompanying 1.5 acres as an investment property and plans to develop the remaining acreage for additional medical space. The purchase price was not disclosed. The seller in this transaction was UniProp Inc., a real estate investment firm headquartered in Birmingham.
The Southfield branch of Grubb & Ellis Co. has negotiated a freestanding, single-tenant, build-to-suit of 3,927 sf of retail space in Livonia to be leased to Kinko's Inc., a Delaware corporation.
The Livonia property is owned by O & M Investment, LLC. The tenant is expected to take occupancy in January 2004.Tom Boutrous of the company's Retail Group and Randall Allman of the company's Industrial Group represented the owner in the transaction.
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