X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

BIRMINGHAM, MI-Google Inc. has reportedly signed a 17,000-sf office lease Downtown. The online portal is expected to occupy space at 325 N. Old Woodward office building, where the former Jacobson’s men’s store had been located at the northwest corner of North Old Woodward and Willits Street.

Tom Markus, the Birmingham city manager, tells GlobeSt.com that it appears very strong that the deal has been done. “They had been working on it for some time,” Markus says. “I know they’re planning on bringing in about 40 to 60 employees.” Google Inc. could not be reached for comment about the move from Town Center complex in Southfield. The 325 N. Old Woodward building is one of the newest Downtown, built by Burton-Katzman.

The company is moving into a four-story, mixed-use building, which features two stories of offices, one story of retail on the bottom level and one floor of residential condominiums on the fourth floor. “It will be good to have a strong, high-tech firm mingle in our community, it may spur some similar growth, as well as generate foot traffic,” Markus says.

It’s not that the Downtown needs much help. The city’s Downtown, along Maple Road and Old Woodward Avenue, is one of the most prestigious in Michigan. The CBD has a decent 10.7% office vacancy rate with asking rates of $29.10 per sf, according to a Grubb & Ellis fourth quarter market report.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.