Farmington Hills, Michigan (July 24, 2014) – Friedman Integrated Real Estate Solutions, one of the nation’s leading providers of commercial real estate services, recently sold a 55,356 SF hotel at 501 Saginaw Street in Bay City, Michigan via Auction.com. Rich Deptula, Senior Vice President of Investment and Loan Sale Advisory services, Barry Swatsenbarg, National Director of Investment and Loan Sale Advisory Services, and Harrison West, Associate of Investment and Loan Sale Advisory Services, facilitated the transaction.
The former Holiday Inn and Three Palms Hotel is expected to receive further renovations to update the property by the new owner. The location is adjacent to the Uptown Bay City new development, and is along the I-75 business route.
“This is yet another example of investors looking to reposition well located real estate, which has been a growing theme in Michigan as the market continues to recover,” said Swatsenbarg.
ABOUT FRIEDMAN INTEGRATED REAL ESTATE SOLUTIONS
Recognized as one of the largest privately-held commercial real estate organizations in the nation, Friedman Integrated Real Estate Solutions provides clients with a single point of contact for the full range of services it offers.
Friedman manages over 140 facilities encompassing more than 16M SF of commercial and over 8,000 multi-family units across the country. Friedman’s brokerage team has over 800 current listings with $10 billion in closed transactions. As owners and managers of commercial property for over 25 years, Friedman understands what it takes to achieve results that maximize the client’s objectives.
For more information, please visit: www.friedmanrealestate.com.
