SOUTHFIELD, MI-A local investor and entrepreneur has purchased a vacant 81,500-sf industrial building on 4.68 acres, which was listed for $1.8 million. The buyer, Philip Tewel of Jewel Kosher Catering in Southfield will likely use the property for his business, according to Raffi Derbabian, vice president of locally based Insite Commercial Group/TCN Worldwide's Industrial Division.
Derbabian and colleague Brent Beshears represented the seller, Comerica Bank, in the transaction. Derbabian tells GlobeSt.com that a company serving the automotive industry had previously used the property at 21300 W. Eight Mile Rd., but that it had been vacant for some time since that user.
"This was a challenging sale, but we found someone who had good use for the building, so it all worked out," he says. The property, built in 1961, was renovated in 1991, and had little need for improvement, he adds. A move-in date could not be obtained by press time.
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