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Historic Downtown Michigan National Building Purchased, Leased

DETROIT - Strategic Staffing Solutions will lease out the Detroit building to computer firm until it leaves its leases at the Penobscot Building and the Fisher Building in 2003.

By Robert Carr | Updated on November 28, 2000

DETROIT – Strategic Staffing Solutions has purchased the historic former Michigan National Bank Building in Downtown Detroit. The company reportedly paid $1.3 million to 625 Associates for the 16,000-sf building. It plans to use the building for a headquarters after its leases are up in 2003 at the Penobscot and Fisher buildings, both also in Downtown Detroit.

Until then, it is leasing the building to Global Visions Communications Inet under a three year contract. The building space is considered Class B+, says Charles Mady of Exclusive Realty, the leassor and seller of the MNB Building. Class B rents for about $19 psf in the Detroit CBD, according to commercial real estate analysts.

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