Investment Overview

Register to Bid and Access Due Diligence Documents on RealINSIGHT Marketplace: https://rimarketplace.com/auction/2507 Marcus & Millichap has been retained to offer the Northland Towers properties in Southfield, Michigan to the investment market. This is an excellent investment opportunity with significant financial upside potential through re-development and re-positioning of the property. The Northland Towers property is comprised of four office facilities, 15530 and 15565 Northland Drive and 20755 and 20905 Greenfield Road, situated on 13.78 acres. Originally constructed from 1963 through 1968, the structures have had a long useful life however the economic viability of the assets in the current form has been greatly diminished by current market factors. With the property age, changing physical environment, demographic shifts and current state of the office leasing market for properties of this kind in far southern Southfield, the property is ideal for re-development. The property has great visibility on three sides from two primary surface streets and an active freeway. The property is compelling in that it is adjacent to the former Northland Mall which is now undergoing a thorough change with new construction of multi-family, retail (Costco) and entertainment properties. The City of Southfield has set forth a new vision for this very visible area, and premium development site. Southfield commissioned a comprehensive re-development plan and the various use concepts have been identified within the new master plan. This will directly connect to the subject site creating essentially an extension of the master plan to include this Northland Towers property. Current zoning and potential use flexibility from the City of Southfield should allow for new construction that will maximize the physical and financial potential of the property. Using the completed market study, the Northland Towers site will be redefined to its highest and best use through a process that will likely span several years, working in harmony with the City and the continuing adjacent re-development. The location is adjacent to the Lodge Freeway (M-10), which goes northwest from downtown Detroit into the suburbs. Approximately 140,000 vehicles daily pass by on the Lodge Freeway handling enormous commuter volume daily.