SOUTHFIELD, MI-As part of a relocation and expansion effort, Idea Group Inc. has signed a three-year lease for 1,492 sf at Crescent Center. The property, located at 24445 Northwestern Hwy., will offer the design-engineering company double the space of its current location at 19111 W. 10 Mile Rd. Official move-in for Idea Group is Dec. 1.
"They had looked at other properties, but the location here was good, and it was an attractive building," says Damon Jordan, an office specialist with Grubb & Ellis Co.'s local office who brokered the transaction on behalf of the tenant. Representatives from Friedman Real Estate Group Inc. in Farmington Hills were on hand for the landlord, SOP Crescent Centre LLC, also based in Detroit.
The quoted lease rate for the approximately 80,000-sf building ranges between $13 and $14 per sf annually. Jordan notes that TIs were involved with the deal, but information about specifics could not be released. "They basically relocated in the same market they're already in," Jordan tells GlobeSt.com. "But they were able to double their space as well."
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