Farmington Hills, Michigan (March 21, 2016) – Friedman Integrated Real Estate Solutions, one of the nation’s leading providers of commercial real estate services, recently sold, L.A. Plaza, a 34,965 square foot retail center located at 36083 – 36175 Plymouth Road, in Livonia, Michigan. The seller, CRE REO LLC – Gearing Capital Partners, sold the building to Cantor Real Estate Income and Opportunity Fund II, LLC, through Auction.com on March 11, 2016. Rich Deptula, National Director, Investment Advisory Services, and Josh Miller, Senior Associate, Investment Advisory Services at Friedman represented both the seller and the purchaser in this transaction.
Situated on a 4.4 acre site, L.A. Plaza is comprised of one single-story; L-shaped retail building containing a mix of retailers, restaurants, and service providers, such as Lily Nails, The Hair Doctor, Cozy Corner Café, Quizno’s Subs, The Jewelry Factory, KDI, and The Bike Tri Shop.
“This well located retail center, which is 60% occupied, presented an excellent value-add opportunity for an investor to bring the property to market occupancy levels,” says Deptula.
ABOUT FRIEDMAN INTEGRATED REAL ESTATE SOLUTIONS
As one of the largest privately-held full-service 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 Advisory, Property Management, Brokerage and Construction services that it offers.
Friedman manages more than 140 commercial properties encompassing more than 16M SF and more than 10,000 apartment homes throughout the United States. Friedman’s brokerage team has over 800 current listings with $10 billion in closed transactions. As owners and managers of commercial property for 30 years, Friedman understands what it takes to achieve results that maximize their clients’ objectives.
For more information, please visit: www.friedmanrealestate.com.
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