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Two-Building Detroit Office Campus Sells to NYC Investor
CBRE’s Anne Galbraith Kohn recently represented Hayman Company in its disposition of Northfield Office Park, 5600 and 5700 Crooks Rd. in Troy, MI. An affiliate of New York City-based real estate investment firm Group RMC acquired the assets for an undisclosed sum.
The two-building, 234,687-square-foot multi-tenant office portfolio was nearly 70% occupied at the time of sale. Group RMC continues to expand its holdings throughout the United States and currently owns more than 15 million square feet representing north of $1.6 billion in asset value.
Troy is suburban Detroit’s second-largest office market. The continued influx of capital from outside investors seeking strong returns validates the strength of the market, CBRE says.
Pictured: 5700 Crooks Rd.
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