FRIEDMAN’S STEVEN SILVERMAN SELLS NET LEASED RITE AID IN DETROIT, MI
Farmington Hills, Michigan (September 28, 2018) – Friedman Real Estate, one of the nation’s leading providers of commercial real estate services, recently sold a NNN leased rite aid located at 20000 Grand River in Detroit, Michigan. Grand River Property Management, LLC sold the building to 20000 Grand River, LLC.
“The property is currently subleased to Family Dollar and the purchaser was able to acquire the property at an above market cap rate yield given the dynamics of the deal, “said Silverman.
Steven Silverman, Vice President, Investment and Advisory Services at Friedman represented the buyer in this transaction.
ABOUT FRIEDMAN REAL ESTATE
As one of the largest privately-held full-service commercial real estate organizations in the nation, Friedman Real Estate 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.