Southfield-based real estate company Hayman Co. today announced the acquisition of the 732,000-square-foot Troy Officecentre for $55 million. Following the sale, Hayman will manage and lease the center and oversee the construction of nearly $10 million in building enhancements, significant signage improvements, and exterior property upgrades.
Planned improvements include new elevators, roof replacements, upgrades to the parking lot and parking deck, and enhancements to the signage and landscaping to increase visibility and curbside awareness. The company is also planning significant amenity additions, including a dog daycare, new food and beverage options, community event space, and more.
The complex is 83 percent occupied. Tenants include: J.D Power & Associates, St. John Providence, Urban Fulfillment Services, General Physics Corp., and Dialog Direct.
“This acquisition supports our strategic plan to capitalize on a prime office real estate market with a property that can be enhanced over time,” says Andrew Hayman, Hayman’s president. “The Troy Officentre campus is one of Troy’s best kept secrets, and we plan on bringing it to forefront of the business community. Our vision will transform this fantastic property into a collaborative, dynamic office campus with an enhanced brand image and strong ties to the southeast Michigan business community.”
The five-building office campus is located at 300-340 E. Big Beaver Rd. with significant frontage along I-75, which Hayman calls an “excellent location.”
“The quality of these five buildings coupled with the highly trafficked Troy business market and notable retail and restaurants along Big Beaver provide us with a great opportunity to attract companies looking to move into or within the Troy area,” he says.
Hayman’s office portfolio includes approximately four million square feet under ownership and management, more than 40,000 apartment units, and 16 million square feet of commercial space.