CHICAGO, IL – The Chicago office of HFF (Holliday Fenoglio Fowler, L.P.) has been retained by Hines to market the sale of One Northwestern Plaza, (top right photo), a 240,900-square-foot office building in Southfield, Michigan.The HFF investment sales team will be led by managing directors Jeff Bramson (middle right photo) and Jaime Fink,(middle left photo) who will market the property on behalf of the Hines U.S. Office Value Added Fund, which has owned the building since 2005.
One Northwestern Plaza is being offered without an asking price free and clear of debt.
One Northwestern Plaza is located at 28411 Northwestern Highway in the southeast Michigan suburb of Southfield surrounded by the affluent suburban communities of Oakland County.
Situated at the confluence of Northwestern Highway, Reuther Freeway (I-696), and John C. Lodge Freeway (US-10), the property is visible from all three highways and has lengthy unobstructed views in every direction.
The 13-story, Class A office tower is 87 percent leased to tenants including Watson Wyatt Worldwide, Massachusetts Mutual Life Insurance, John Hancock Life Insurance, Principal Life Insurance, Denenberg Tuffley, and Consolidated Financial.
“This is an exceptional opportunity to acquire an architecturally striking, award-winning, well-tenanted property. The building’s diverse tenant base includes financial services, media, legal and other professional service firms.
"The property’s rent roll is well-positioned with mid-to-long-term lease expirations, which provide income stability coupled with long-term growth potential,” said Fink.
Hines is a privately owned real estate firm involved in real estate investment, development and property management worldwide.
The firm’s historical and current portfolio of projects that are underway, completed, acquired and managed for third parties includes more than 1,100 properties representing approximately 454 million square feet of office, residential, mixed-use, industrial, hotel, medical and sports facilities, as well as large, master-planned communities and land developments.
With offices in more than 100 cities in 17 countries, and controlled assets valued at approximately $25.8 billion, Hines is one of the largest real estate organizations in the world. Visit http://www.hines.com/ for more information.
Contacts:
JEFFREY M. BRAMSON, HFF Managing Director, (312) 528-3650, jbramson@hfflp.com
JAIME M. FINK, HFF Managing Director (312) 528-3650, jfink@hfflp.com
KRISTEN M. MURPHY, HFF Associate Director, Marketing, (713)852 3500, krmurphy@hfflp.com
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