Farmington Hills, Michigan (April 22, 2015) – Friedman Integrated Real Estate Solutions, one of the nation’s leading providers of commercial real estate services, will be auctioning two iconic Detroit landmarks on June 22: the Fisher Building and the Albert Kahn Building, both located in the New Center area. Barry Swatsenbarg, National Director, Investment & Loan Sale Advisory Services, and Rich Deptula, Senior Vice President, Investment and Loan Sale Advisory Services, will represent the seller at auction.
The Fisher Building is located at 3011 W. Grand Boulevard, just west of the northern terminus of the M-1 Rail Line currently under construction. The building, which serves as the anchor to the New Center area, contains ±505,969 square feet. Built in 1928, the Fisher Building consists of one 28-story central tower and two 11-story wings. The golden tower of the Fisher Building provides one of the most recognizable sights on Detroit’s skyline. Designed by master architect Albert Kahn in the Art Deco style, the building features an opulent lobby finished with mosaics, frescoes, marble and a three-story atrium/arcade. Home of the Fisher Theatre, one of Detroit’s most famous live theatre venues, the ornate skyscraper is constructed of limestone, granite and several types of marble. The Fisher Building enjoys a convenient location, only minutes from downtown and the surrounding suburbs. Amenities include a diverse array of upscale retailers, full-service restaurants and food-service options, a gas station, banks, specialty shops, services, galleries, and conferencing facilities. The property comes with over 2,000 parking spaces, including three surface lots and two parking garages.
The Albert Kahn Building, also known as the New Center Building, is located at 7430 Second Avenue and is similarly positioned just west of the northern terminus of the M-1 Rail Line. Built in 1931 by the Fisher Brothers and designed by Albert Kahn himself, one of Detroit’s most renowned architects and whose firm is the building’s anchor tenant, the ten-story building contains ±270,533 square feet. The polished and carved granite building also features Art Deco architecture and a stunning, handpainted ceiling in the lobby. Albert Kahn designed the building to echo the opulence of the nearby Fisher Building. The Albert Kahn Building contains a stairwell on one side of the lobby that leads to an underground concourse connecting the property to adjacent parking, the New Center One (NCO) Building and the Fisher Building.
Amenities include fiber optic cabling, banking, convenience store, dry cleaner, fitness center, courtyard, mailroom, conference facility, food court, food service, and a full service restaurant. Both the Albert Kahn Building and the Fisher Building are listed on the National Register of Historic Places.
“These two iconic buildings have played an important role throughout Detroit’s history and remain the premier landmark addresses in the market,” said Swatsenbarg.
New Center, a prominent commercial and residential historic district of Detroit, contains many of the city’s rare architectural jewels and was once home to prominent automobile pioneers, manufacturers and industrialists, businessmen, architects, political and religious leaders, musicians, and sports figures. Convenient pedestrian access to the entire area via weatherproof skywalks and tunnels provides one of New Center’s most unique features. Vibrant, diverse and economically healthy, the New Center area serves as the northern anchor of Detroit’s Greater Downtown. Centrally located within the heart of the city, New Center offers easy access to four major expressways. The area will benefit from the 3.3-mile M-1 Rail Line (light rail/streetcar circulator) that will connect the Central Business District to New Center along Woodward Avenue. When completed next year, premier properties like the Fisher and Albert Kahn Buildings should see an uptick in leasing activity, due not only to their proximity to the M-1 station, but also because the available supply of quality office space and parking is rapidly diminishing within Detroit’s Greater Downtown.
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 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.
