Friedman Lands Leasing Assignment from LNR

DETROIT-LNR Property Corp. has awarded Friedman Real Estate Group of Farmington Hills the exclusive leasing and management contract for the 1.8-million-sf Penobscot and First National Buildings. The two buildings are landmarks Downtown.

The Farbman Group had managed the properties for the previous owner, Capstone Advisors of San Diego, which sold its share of the buildings earlier this year.

Steven Eisenshtadt, vice president at Friedman, has been appointed primary leasing agent. “There is a lot of excitement in downtown Detroit right now, with all the new real estate developments happening around town,” he says. “Several large corporations have recently committed to locate Downtown, such as Compuware, General Motors, EDS, UAW, and H&R Block, indicating to us that Downtown is making a comeback and that other corporations will follow.”