The closing allows LES to relocate some 100 employees from its Michigan, and out-of-state offices. The international firm will conduct $2 million in renovations on the building.
"We are actively looking for tenants such as large private companies, federal agencies and local municipalities," says LES president Avinash Rachmale. Sale of the former government office is the latest in ongoing efforts by the state to reduce its property portfolio.
"The benefits of this transaction go beyond sale proceeds or an investment in bricks and mortar," says Mitch Irwin, director of the state's Dept. of Management and Budget. "We look forward to the transformation of this idle state building into a thriving hub for private industry."
DMB accepted the offer from LES on March 14 as the result of a competitive bid process. The 245,000-sf structure was targeted for sale upon the consolidation of several state agencies into Detroit's Cadillac Place.
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