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Kojaian Takes Advantage of Prentiss Divestiture to Grab Livonia Office Building

LIVONIA, MI-The local development firm bought Seven Mile Crossing to build up office space in this downriver city. The sale was part of a $56.4-million package that included buildings in Houston and suburban Chicago.

By Robert Carr | Updated on February 01, 2001

LIVONIA, MI-A suburban office complex here called Seven Mile Crossing was recently sold by Dallas-based Prentiss Properties to the Kojaian Cos. of Bloomfield Hills, MI.The sale, one of three property transactions by Prentiss in early January, was part of a package that included the 335,478-sf Livonia office complex, a 52,615-sf office building in Houston and two buildings, 111,634-sf and 136,260-sf in Vernon Hills, IL. Prentiss officials said the sale price was $56.4 million for the three transactions.

Dale Watchowski, chief investment officer at Kojaian, says his company gratefully grabbed the property. “We felt as though the fact that Prentiss is divesting assets in Michigan presented a good opportunity to buy,” Watchowski told GlobeSt.com.

The three-story Seven Mile site at I-275 and Seven Mile Road is near Kojaian’s large office complex, Victor Corporate Center, and a new office development by the company in Farmington Hills, at the former Bank One building site. “There, we have about 125 acres, where we’re developing a 200,000-sf build-to-suit for Motorola,” he says.

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