Business Services Industry
This Just In.(Farbman Group buys land of Teachers Insurance and Annuity Association - College Retirement Equities Fund)
Crain's Detroit Business, February, 2007
Farbman buys Southfield office complex, land Southfield-based Farbman Group last week bought a high-profile site in Southfield comprising the Oakland Commons office development and 19 acres of vacant land. The estimated $30 million deal with TIAA-CREF (Teachers Insurance and Annuity Association - College Retirement Equities Fund) includes two buildings of 160,000 square feet each and the undeveloped land.
The total site at Civic Center Drive and Northwestern Highway is 40 acres. Andrew Farbman, CEO and co-president of Farbman Group, said the company aims to increase occupancy at the twin class A, midrise buildings and to develop a mixed-use plan for the remaining land. That could mean some combination of retail, office and hotel. "We have a couple of...
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