Thank you for sharing!

Your article was successfully shared with the contacts you provided.

PLYMOUTH, MI-Michigan Credit Union League has sold its 54,474-square-foot office building to Detroit Edison Credit Union. The company declined to disclose the sale price, but the two-story building, at 15800 N. Haggerty Rd. here was listed for $6.9 million.

As part of the deal, Michigan Credit will take over Detroit Edison’s lease for 15,000 square feet at Seven Mile Crossing, 38695 W. Seven Mile Rd., in Livonia, MI.

The transaction was handled by Ray Husband, senior vice president, and Daniel Canvasser, CCIM, associate, both with Grubb & Ellis’ Office Group, and Patrick Shannon, vice president, with the company’s Capital Markets Group. “Changing dynamics at both companies generated new real estate requirements that were better served by the other party’s situation,” Husband said. The two properties involved in the land swap are about two miles apart, and both located in Wayne County.

Michigan Credit’s former building was 30% occupied with about 38,000 square feet available for lease at the time of the sale. The building, constructed in 1998, offers an on-site ATM and outdoor signage. Asking lease rates for the Class B space range from $14 to $19 per square foot, and offices in the building are subdivisible to 3,000 square feet.

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?


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.