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Anglo Wants Takers for 32%-Occupied Office Park

TROY, MI-The troubled Irish lender has taken over the 1.2-million-square-foot North Troy Corporate Park, once full by EDS, and hired Grubb & Ellis to find buyers for single buildings.

By Robert Carr | Updated on June 19, 2011

TROY, MI-Anglo Irish Bank, mired in a mandatory sell-off of its holdings by the Irish government, has hired Grubb & Ellis Co. to find buyers for some or all of the eight office buildings in the North Troy Corporate Park. The challenge is that less than 35% of the 1.2 million square feet is occupied and Troy, once the best office market in Southeast Michigan, is now one of the worst in the country.

Located along Tower Drive, Corporate Drive and New King Street in north Troy, the late-1980s-built offices once enjoyed much fuller occupancy, mostly by the former automotive supplier EDS. However, the firm left the property as it was acquired by Hewlett-Packard a few years ago.

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