Foster Financial Co. Inc. in Grosse Pointe has closed on its acquisition of The Century office complex at 25800 and 25900 Northwestern Highway in Southfield, further expanding its footprint in one of metro Detroit’s more established office submarkets.
The Class A property — the deal closed on April 22 — consists of approximately 365,000 square feet across two buildings and includes a large, covered parking structure and a full amenity package. Terms of the acquisition were not disclosed.
The purchase adds to Foster Financial’s growing cluster of nearby office properties, where two buildings within a quarter-mile radius are approximately 95 percent occupied. With limited availability across its existing portfolio, the firm targeted The Century as a value-add opportunity with significant vacancy and substantial leasing upside.
The property features a full suite of office amenities, including a conference center, a fitness center, a tenant lounge, an on-site café with indoor and outdoor seating, a sundry shop, and a covered parking garage.
The complex also offers flexible occupancy options, including suite sizes in the 11-story high rise ranging from approximately 2,500 to 65,000 square feet of space. The building, 25800 Northwestern, is occupied by Belle Tire, Hanover Insurance, Capital Title Insurance Agency, and the law firm of Sullivan Ward Bone Tyler & Asher, among others.
Additionally, with the former 120,000 square foot “Doner Building” sitting empty since they vacated it in 2022, there is an opportunity to re-lease the building to a single user, or multiple tenants.
The flexibility makes the campus well-suited for both small and mid-sized tenants, as well as larger ones. The Century buildings’ location along Northwestern Highway also provides immediate access to I-696 and M-10.
Foster Financial plans to aggressively reposition the asset by leveraging what it describes as a below-market cost basis. The firm intends to offer rental rates approximately 35 percent below comparable Class A buildings in the immediate area, including the nearby Southfield Town Center complex, while also delivering fully buildout office suites for new tenants.
“We were able to acquire the asset at such a discount that it gives us a significant competitive advantage in the market,” says Bradley Foster, president of Foster Financial. “That allows us to offer high-quality office space with top-tier amenities at pricing that’s materially below our competition. We see a clear opportunity to capture demand from tenants who want quality space without paying premium rents.”
Foster Financial is a vertically integrated real estate company that handles construction, leasing, and property management in-house. That platform allows the company to move quickly on acquisitions, control project execution, and deliver customized solutions for tenants without relying on third-party providers.
The firm has built its business around identifying value-add opportunities where hands-on ownership, strategic capital improvements, and responsive management can unlock long-term value.
The firm will utilize its in-house construction team to deliver turnkey buildouts as part of new lease agreements; a strategy it has employed across its existing portfolio to streamline occupancy and reduce upfront tenant costs.
“Our approach is to make the leasing process as simple as possible,” says Doug Noble, a partner at Foster Financial. “Tenants can focus on whether the space works for them, and we handle everything else — from design and construction to delivering a finished product quickly.”
Foster Financial expects leasing activity to accelerate in the coming months as it rolls out its repositioning strategy. With strong existing occupancy in its surrounding portfolio and growing demand for quality office space at a more affordable price point, the firm believes The Century is well positioned to attract a broad range of tenants seeking upgraded space, strong amenities, and excellent regional access.
The company has $250 million of assets under management, 50 operating employees, and 2.4 million square feet of commercial space. Properties include Central Park Plaza, Lahser Center, and Tower 14 in Southfield; The Joe Garage in downtown Detroit; and 20902 Mack in Grosse Pointe
For more information, visit foster-financial.com.
