Sperry Van Ness, Colliers International brokers close $7 million sale of 26,000-square-foot plot of land in Detroit market
Robert Pliska, owner and managing director of Sperry Van Ness|Property Investment Advisors, LLC, and Greg Bockart of Colliers International, recently arranged the $7 million sale of a 26,000-square-foot parcel of land in Birmingham, Michigan.
The parcel has two unoccupied buildings, and sits at the northwest corner of South Old Woodward Avenue and Brown Street in Birmingham. The sales price equates to $268 a foot or about $11.6 million an acre, one of the highest sales per-square-foot for properties in excess of a quarter-acre in the metropolitan Detroit area.
The buyer, Woodward Brown Ventures, is a local investor that is considering developing the land parcel. The property was previously occupied by the real estate brokerage firm of Weir Manuel Snyder and Ranke and, more recently, DRS Services, Inc.
The seller, represented by Pliska, was WMSR Company, which owned the property that Weir Manuel Snyder and Ranke occupied for many years.
© 2016 Real Estate Communications Group. Duplication or reproduction of this article not permitted without authorization from the Real Estate Publishing Group. For information on reprint or electronic pdf of this article contact Mark Menzies at 312-644-4610 or firstname.lastname@example.org