Farbman Group, a full-service commercial real estate company based in Southfield, completed a portfolio sale of four office buildings totaling over 480,000 square feet located throughout southeastern Michigan. Terms of the deal were not disclosed.
Brokers Bill Bubniak, Alis Manoogian, and Mario Giglio III represented the seller, Promanas, in the transaction to a New York-based real estate investment firm. The sale included Oak Hollow Gateway and Centrum Office Center located in Southfield, Laurel Office Park in Livonia, and Drake Pointe Office Building in Farmington Hills.
“I couldn’t be more thrilled with our brokerage team’s due diligence on this transaction,” says Farbman Group CEO Andrew V. Farbman. “Our team is not only seeing an up-tick in purchase activity, but lending activity as well.
“This portfolio sale is just the beginning of a continued strong year for our company. We look forward to assisting more clients in the sale of their commercial real estate assets in the near future as the market remains on a positive growth trajectory.”
Founded in 1976, the Farbman Group has handled all facets of real estate transactions, including property management, leasing, acquisition, and disposition. The firm manages more than 25 million square feet of office, retail, multi-family, and industrial space throughout the Midwest.