Jul
17
California Investor Acquires Michigan Office Property
ByWilson Real Estate II sold the 30,760-square-foot building in Troy, Mich., to LSTC Michigan, marking the latter’s sixth commercial real estate acquisition in the Detroit area.
Mason Capitani CORFAC International negotiated the sixth acquisition of California-based investor LSTC Michigan in the Detroit metro area. Wilson Real Estate II, the previous owner of the 30,760-square-foot office building in Troy, Mich., listed the property for $4 million. Following the transaction, the building will change its name from the Wilson Office Building to Butterfield Park Place, although Wilson Real Estate will continue to oversee the leasing efforts.
The acquisition adds to the buyer’s other Michigan holdings located in Troy, Rochester Hills, Beverly Hills and West Bloomfield and highlights the increased interest in Michigan office real estate from out-of-state investors…
