DETROIT-Triple Properties, a real estate firm based in Toronto,has acquired Penobscot Building, a 47-story office tower indowntown Detroit. The purchase price of the skyscraper wasapproximated to be in the $5-million range.
Capmark was the seller. The company acquired the title to thedowntown building in a foreclosure auction against the NorthernGroup, the former owner. Penobscot Building was constructed in the1920s. Bob Mihelich, a Southfield-based CBRE broker, representedthe buyer. Farmington Hills-based Friedman brokered the deal forCapmark. For the full story, go to The Detroit Free Press .
GlobeSt.com News Hub is your link torelevant real estate and business stories from other local,regional and national publications.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
