Galloway and Collens, PLLC
We are here for you during the COVID-19 emergency.
Please call 248-284-1990 to reach our receptionist or fill out the contact page of our website and we will be in touch.

Huge industrial complex sold in Michigan

A large industrial complex was recently sold in Michigan. According to the public details from the sale, the building is around 46,000 square feet, and it is located in Farmington Hills. The complex was sold by 200 Elm Realty, LLC, and the company that acquired the building was JR Investment Properties, LLC.

The location is known as a research area, but it is not clear at this time what the industrial complex is going to be used for. According to the investment firm's website, they specialize in purchasing properties that can then be renovated and resold. They will sometimes manage the properties, renting them out to those who want to use the space, but they would prefer to bring them up to code or modernize them and then sell to other corporations that need them for their business ventures. As such, this could just be an investment opportunity, and it is unlikely that they will use the building for anything themselves.

It is unknown if they have a prospective buyer lined up right now or if they simply hope to attract one in the future.

When it comes to purchases and sales that involve such large structures, it is important for both sides to make sure that they take all legal aspects of the sale into account. For example, they need to know about local zoning laws so that they can understand exactly how the building can be renovated and who could purchase it -- and for what purpose -- in the future. They must also make sure that there are not any boundary disputes with nearby property owners so that they can accurately represent the property to anyone who is interested in buying it.

Most sales are very straightforward, but addressing these issues before money changes hands can make things far less complicated so that the transaction can take place quickly.

Source: REJournals, Friedman Integrated Real Estate Solutions sells 46,000-square-foot industrial complex in Michigan" No author given, Mar. 14, 2014

No Comments

Leave a comment
Comment Information
  • Sterling
  • dbusiness - Top Lawyers
  • SuperLawyers 2019
  • Rainbow Image
  • Senior & Caregiver
  • ICLE Contributor
Email Us For A Response

Contact Our Metro Detroit Attorneys

Our law firm is ready to help. Contact the real estate and estate planning attorneys at Galloway and Collens, PLLC, by calling 248-284-1990.

Bold labels are required.

Contact Information

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.


Privacy Policy

This site uses Google's Invisible reCAPTCHA, which is subject to Google's Privacy Policy and Terms of Use.

26075 Woodward Avenue Suite 200 Huntington Woods, MI 48070-1341 Phone: 248-284-1990 Fax: 248-545-2520 Huntington Woods Law Office Map