Office
Northland Towers
15565 Northland Dr, Southfield, MI 48075
Listing Price: Request For Offer
Investment Overview
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.
Northland Towers
Investment Highlights
- This is an outstanding redevelopment opportunity in a major location in northwest suburban Detroit. This highly visible nearly 14-acre parcel can provide a large upside and has excellent potential
- Economic incentives are available to benefit the new investor who is able to re-position this and realize a large potential upside. Surrounded on three sides by main roads, this is a AAA Location.
- A large redevelopment of the adjacent Northland Mall property has multi-family going up and large-scale mixed-use product to follow. A new Costco Business Center has just opened as well.
- The location is adjacent to the Lodge Freeway (M-10), which goes northwest from downtown Detroit through Southfield. Approximately 140,000 vehicles daily pass by on the Lodge Freeway handling enormous commuter volume daily.
Exclusively Listed By
Listing Price: Request For Offer
Investment Highlights
- This is an outstanding redevelopment opportunity in a major location in northwest suburban Detroit. This highly visible nearly 14-acre parcel can provide a large upside and has excellent potential
- Economic incentives are available to benefit the new investor who is able to re-position this and realize a large potential upside. Surrounded on three sides by main roads, this is a AAA Location.
- A large redevelopment of the adjacent Northland Mall property has multi-family going up and large-scale mixed-use product to follow. A new Costco Business Center has just opened as well.
- The location is adjacent to the Lodge Freeway (M-10), which goes northwest from downtown Detroit through Southfield. Approximately 140,000 vehicles daily pass by on the Lodge Freeway handling enormous commuter volume daily.
Investment Overview
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.
Exclusively Listed By
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