ANN ARBOR- Colliers International just announced that they have successfully sold the former Borders Corporate Headquarters in South Ann Arbor. The firm had announced in the 3^rd quarter of 2012 that the 330,000-square-foot two-building complex was under contract to an unnamed investor. Colliers' agents in Ann Arbor represented the seller, Modern Woodman of America, and have also been retained to list the remaining vacant space.

“The property is one of the last office buildings in Ann Arbor with any large floor plate space left,” says Jim Chaconas, a broker with Colliers International Ann Arbor. “It is an excellent opportunity for any large company that wants to move into the very strong Ann Arbor region.”

The strength in downtown Ann Arbor seems to cut across several sectors. American Campus Communities purchased the 610-bed The Landmark last year, an event that Colliers says signifies “national investment firms' notice of Ann Arbor” and an increasingly active student housing market. Furthermore, the University of Michigan continues to take large amounts of space, further depressing the downtown office vacancy rate. In their third quarter analysis of the submarket, Colliers says that, overall, they “are seeing the availability of office and retail space dwindle.”