SOUTHFIELD, MI-Larson Realty Group of Bloomfield Hills and DRA Advisors Inc. of New York have bought Onyx Office Plaza here from Northwestern Mutual Life Insurance Co. The 270,488-sf asset is at 29777 Telegraph Road, on the west side of Telegraph just north of 12 Mile Road.

The four-story office building, built in 1983, is 88.8% leased. The purchase price was not disclosed.

Larson Realty Group has taken over management of the property, and plans to make a variety of upgrades in the coming months.

Onyx Office Plaza is home to 53 tenants, including a mix of local, regional, national and international companies. A café, sundry/card shop, and a jeweler are located on the first floor. Adjacent to the building is a landscaped circular courtyard with picnic benches, and a 1,146-space parking lot.

Larson develops and invests in office, retail, and mixed-use properties and also provides services to third parties, selectively taking on asset management, leasing, construction management and advisory assignments.

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