The building would go up on 5.5 acres of land the company recently purchased from Magna International Inc., a Canadian automotive supplier.

Magna built a facility on part of the land, but did not need the entire parcel.

Officials from Burton-Katzman have received approval from the city planning commission to change the zoning of a 2 acre piece of property to a higher commercial use. Magna's site is mostly zoned high-office, but the new parcel is vacant, and has research center zoning.

Burton-Katzman paired with Sterling Bank and Trust of Southfield to buy the land. The parcel is across the street from the 25-story Top of Troy building, the largest building in the city, and is surrounded by the top Southeast Michigan office developments, including Kirco's 500,000-sf Columbia Center I and II about a half-mile east of the site and Kojaian Cos.' recently-opened Troy Corporate Center two miles to the northwest.

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.