HIGH RISE RE-DEVELOPMENT OPPORTUNITY …...FOR SALE HIGH RISE RE-DEVELOPMENT OPPORTUNITY DETROIT CBD...
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FOR SALE HIGH RISE RE-DEVELOPMENT OPPORTUNITY DETROIT CBD 20-story, 460,000 square foot value-add redevelopment opportunity located in the heart of Detroit CBD
Transcript of HIGH RISE RE-DEVELOPMENT OPPORTUNITY …...FOR SALE HIGH RISE RE-DEVELOPMENT OPPORTUNITY DETROIT CBD...
FOR SALE HIGH RISE RE-DEVELOPMENT OPPORTUNITY
DETROIT CBD
20-story, 460,000 square foot value-add redevelopment opportunity located in the
heart of Detroit CBD
Located in the heart of Detroit’s burgeoning Central Business District, 444 Michigan Avenue combines iconic high-rise architecture, a large footprint perfectly suited for redevelopment, updated mechanicals and floor to ceiling windows overlooking the city skylines of both Detroit & Windsor Canada. Originally constructed for and currently owned by AT&T, 444 Michigan has been seamlessly occupied and maintained to the highest standards. AT&T’s recent investments in the property, coupled with the prime location, make the offering an exceptional opportunity. Building Features: • Two story main lobby with associated mezzanine level • Dual power feed • Multiple conference rooms of various sizes • Full service cafeteria/kitchen
Jones Lang LaSalle is pleased to offer for sale the former AT&T Headquarters building in Detroit, Michigan
PROPERTY OVERVIEW
Current Stacking Plan 444 Michigan Ave, Detroit Michigan
Year Built 1972
Building Height 20-stories
Total Building Area 551,453 RSF
Total Office Area 460,983 RSF
Parking Spaces 10
Infrastructure
Mechanical System
• 3200 ton chilled water consisting of eight (8) 400 ton chillers
• 3 main air handling units
Electrical System • Two(2) incoming
13.2KV primary lines
Generator System
• Three (3) 2,250 kW generators
• One (1) 750kW generator
Elevators
• Four(4) low rise • Three(3) High rise • One(1) Service • One(1) Freight
AT&T Retained Space
Vacated Space
Building Mechanical Systems Space
444 MICHIGAN AVENUE | DETROIT
Configuration
AT&T Retained Space 85,089 RSF
Building Mechanical Area 91,854 RSF
Remaining Office Area 374,510 RSF
DOWNTOWN DETROIT | The Transformation
Institutional Cobo Center (Renovation to convention center) - $300M (completed) Detroit Riverwalk - $140M (ongoing) Campus Martius Park - $24M (completed)
Sports & Entertainment Ford Field (NFL indoor stadium) - $430M (completed) Comerica Park (MLB stadium) - $300M (completed) The District Detroit (New NHL stadium – delivering in 2017 and surrounding neighborhood development) - $650M (now under construction)
Multi-Family Projects Various - $350M (completed and growing)
Office/Retail Redevelopment Various - $1.5B (completed and ongoing)
Infrastructure M-1 Rail (mass transit) - $125M (under construction) International Trade Crossing (new bridge into Canada) - $2.5B (approved, awaiting ground breaking) TEXT
Over $6B invested, actively under construction or approved awaiting ground breaking
With nearly $6B of completed, under construction and planned new development activity, greater Downtown Detroit has quickly become one of the hottest real estate submarkets in the Midwest. Spurned on by a nearly 100% occupancy rate in the residential sector, a rapidly rebounding office & retail sector, major institutional projects and a burgeoning arts, sports & entertainment scene, Detroit is on an upward trajectory with unlimited potential.
Project Highlights include:
Main Lobby
PHOTOGRAPHS | 444 Michigan
Main Lobby
Interior Executive Parking Conference Room
Full Service Cafeteria / Kitchen Cafeteria
FOR MORE INFORMATION, PLEASE CONTACT:
Although information has been obtained from sources deemed reliable, Owner, Jones Lang LaSalle, and/or their representatives, brokers or agents make no guarantees as to the accuracy of the information contained herein, and offer the Property without express or implied warranties of any kind. The Property may be withdrawn without notice. If the recipient of this information has signed a confidentiality agreement regarding this
matter, this information is subject to the terms of that agreement. ©2014. Jones Lang LaSalle. All rights reserved.
George Kotrogiannis
+1 312 228 3219
Kurt Kittner
+1 312 228 3827
444 MICHIGAN AVENUE | DETROIT, MI
A.J. Weiner
+1 248 581 3335
Dave MacDonald
+1 248 581 3333
EXCLUSIVE ADVISORS MARKET EXPERTS CAPITAL MARKETS
Michael Hochanadel
+1 415 395 7283
