Bloomfield Hills-based Princeton Enterprises today announced the privately held investment partnership that owns the Drummond Island Resort and Conference Center in northern Michigan has retained Birmingham-based Franklin Property Corp. to market the property for sale.
The 1,500-acre property near Mackinac Island includes 7,800 feet of shoreline frontage on Lake Huron, a 40-unit condominium hotel, an 18-hole championship golf course, a private hunt club, a marina, an airplane hangar, multiple dining facilities, and individual cabins and cottages.
“We have been working with Princeton Enterprises on behalf of the owner for the past year on developing certain aspects of the property” says Andrew Milia, president of Franklin Property. “There has been a lot of unsolicited interest from outside investors and users about acquiring the property and, as a result, Princeton has decided to market it on a much broader basis.”
Accessible by car, boat, or plane, the property is expected to generate interest from several different types of investors including hospitality and resort owners, golf course and marina operators, and corporations, colleges, or large non-profits for use as a retreat center. The property was originally developed by Tom Monahan, founder of Domino’s Pizza Inc. in Ann Arbor Township, who reportedly invested more than $30 million in the development before selling the property.
Since its ownership, Princeton has made significant improvements to the golf course and other upgrades to the property’s other assets.
More information on the property can be found by contacting Whitney Findlay at (248) 539-3332 or at wfindlay@franklinpropertycorp.com.
