Troy, MI Office Market Recovering

DETROIT—Yesterday, GlobeSt.com reported that Friedman Integrated Real Estate Solutions had helped negotiate the sale of 5750 New King Dr., a three-story, approximately 91,000-square-foot class A office building in suburban Troy to Macomb Development, LLC. It was just the latest sign that investors and occupiers have gotten interested again in an area that had suffered more than most from the recent economic crisis.

According to a report just published by Friedman, for example, the Metro Detroit office submarket has in some ways returned to a pre-recessionary level of health. “Total investment office sales were up an astonishing $300 million at the close of 2013,” it notes, “significantly higher than anything seen since 2007.”