Boji Group, a real estate development and property-management company with offices in West Bloomfield Township and Lansing, notified the state it does not desire to proceed with the purchase, citing a lack of tenants willing to rent space in the building. Boji notified the Michigan Department of Management and Budget in an Aug. 23 letter. The department has not decided what its next steps will be for the building.
The department approved the sale in December, selecting the Boji Group's offer over a bid of $6.3 million to $13.9 million from Southeast Michigan real estate developer and businessman Sam Danou, chairman of Trenton-based Danou Enterprises Inc. State employees who once worked in the Downtown building have relocated into Cadillac Place, the former General Motors Corp. world headquarters in the New Center area.
While the building is for sale, the state hopes to arrange a deal that would allow them to keep in place a public safety communication system and related equipment that now exists on top of the building.
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to asset-and-logo-licensing@alm.com. For more inforrmation visit Asset & Logo Licensing.
