Lutz Capital Corp., the investment sales and mortgage banking division of The Lutz Cos. of Farmington Hills, sold the building as well as placed fixed-rate acquisition financing for Thompson. The sale of the 23,000-sf office building on West Seven Mile Road was at $2.3 million. Lutz was able to secure fixed-rate financing at 81% of the property's purchase price with First Federal of Michigan bank.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM Digital Member, you’ll receive:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.