Nearly a half-acre of property in Detroit’s Brush Park will go up for auction Sept. 19.
The 19,000-square-foot building at 435 Division St. and 2,500-square-foot building at 2711 Beaubien St. plus the vacant parcels at 2717 and 2725 Beaubien sit in the heart of an emerging enclave where hundreds of millions of dollars in new development and investment is planned
Nearly a half-acre of property in Detroit’s Brush Park will go up for auction Sept. 19.
The 19,000-square-foot building at 435 Division St. and 2,500-square-foot building at 2711 Beaubien St. plus the vacant parcels at 2717 and 2725 Beaubien sit in the heart of an emerging enclave where hundreds of millions of dollars in new development and investment is planned or already under construction.
The starting bid is $500,000.
The properties are owned by Brush Lofts LLC, an entity controlled by Jason Dean, according to CoStar Group Inc., a Washington, D.C.-based real estate information service.
According to the online listing at ten-x.com, it’s possible to redevelop the two buildings, constructed in 1909 and 1919, rather than tear them down for new ground-up construction.
The properties are on the southwest corner of the block bounded by Beaubien to the west, Division to the south, Alfred Street to the north and Brush Street to the west. The remainder of the block is owned by the city.
They are adjacent to the planned $70 million development by an investment group led by Dan Gilbert with about 400 apartments and for-sale units on 8.4 acres of largely vacant land.
In addition, they are near the former Brewster-Douglass housing projects site, which along with a pair of properties in Eastern Market are being targeted for a $300 million, 1,000-plus-unit residential mixed-income development.
Gilbert’s Bedrock Management Services LLC and three other companies — Columbia, Md.-based Enterprise Community Partners; KBK Enterprises, which has offices in Columbus, Ohio, and Pittsburgh; and Novi-based Ginosko Development Co. — make up the development group tapped by the city as it works to secure $30 million in federal funding for the project.
Also nearby, work continues on The Scott at Brush Park, with nearly 200 apartment units in a $65 million development by a pair of developers, Birmingham-based Broder & Sachse Real Estate Services Inc. and Southfield-based Woodborn Partners LLC. The project is expected to be complete this year.
Farmington Hills-based Friedman Integrated Real Estate Solutions LLC is listing the Brush Park property for auction.
The auction begins Sept. 19 and ends Sept. 21.
For more information on this listing visit, Friedman Integrated Real Estate Solutions
