3/28/2008

Marcus & Millichap to market suburban-Detroit office plaza for $11.5M

by

The Nottingham Office Plaza

The Nottingham Office Plaza, a 61,024 square foot office building in Farmington Hills, Mich., has been placed on the sales block with an asking price of $11.5 million, or $188 per square foot.

William T. O'Connor of Marcus & Millichap's Detroit office is marketing the building for the seller.

Built in 1987, the Nottingham Office Plaza is located at 32300 Northwestern Highway. The two-story building is situated on 3.75 acres and is currently 100 percent occupied by five tenants. Its largest tenant, financial services firm UBS, occupies 41 percent of the property until 2014.

The building has recently undergone more than $350,000 in renovations and is being offered with an 8.73 percent capitalization rate.

Address: 32300 Northwestern Highway, Farmington Hills, Mich.

Size: 61,024 square feet

Built: 1987

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Filed Under: Office

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