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Fisher, Kahn Buildings Sell for $35 Mil

DETROIT-TrizecHahn gets $20 million less than it expected for two Detroit landmarks in the New Center Area. They have a combined 200,000 sf of space available, which will house 2,500 state of Michigan employees and other tenants.

By Robert Carr | Updated on July 10, 2001

DETROIT-The Farbman Group has purchased the historic Fisher and Albert Kahnbuildings in the New Center Area from TrizecHahn Properties for $35 million. In June, Ken Szady, senior vice president of investment sales and finance for the Trammell Crow Co.’s Chicago office and the broker of the deal, denied the Farbman Group of Southfield had been secured as the buyer of the buildings along with an East Coast-based opportunity fund (now identified as the Lubert Adler Real Estate Fund of Philadelphia).

Trammell was retained by TrizecHahn as exclusive agent to market the two buildings.

Szady also had said the buildings, with almost one million sf between them, would fetch about $55 million when sold.

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