There's no hurry to find a buyer, claims Jim Whittington, senior vice president for Chicago-based US Equities, which is selling the building for Compuware.
The company received more than half a dozen bids for the building during the year, and at an open house held in March. It has 188,000 sf of office space, as well as 48,000 sf of day care and fitness space.
"It's a very well-maintained building with fabulous amenities," Whittington says. "Also, Farmington Hills is a very desirable office market."
The 15-year-old building is located on Northwestern Highway, just south of Middlebelt Road. There's been a lot of interest in the building, including national tenants, Whittington tells GlobeSt.com. However, though the software firm would like to sell quickly for the highest amount, time is still on Compuware's side, Whittington adds.
"I think they're very busy trying to coordinate the move to Downtown," he explains. "They're not going to rush to judgment. They'll make a decision that's in the best interest of the shareholders."
Whittington would not comment on a sale price, or on reports that the company 's chairman, Peter Karmanos, says the building is worth $30 million.
"There is no listing price, or sales deadline," Whittington says.
Compuware is set to move into the new Campus Martius development in Downtown Detroit. The new development will offer office space, hotels, restaurants, covered parking, retail and entertainment space. A two-acre community park will also be located at the site.
Kern Woodward Associates, awarded the project by the city, consists of a partnership of Schostak Brothers & Company, Sterling Group, and Melvin Butch Hollowell, a Detroit activist and partner in the law firm of Butzel Long.
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