DETROIT (February 23, 2010) – MayfieldGentry Realty Advisors, LLC has announced that Giffels–Webster Engineers (GWE) has signed a five-year lease for 3,513 square feet at Grand Park Centre, a 105,305 square foot historic office tower located across from Grand Circus Park at 28 W. Adams in Detroit. The engineering firm relocated from 407 E. Fort Street in Detroit.
“Grand Park Centre’s location at the midpoint of the Detroit People Mover system and within walking distance of some of the city’s superior sports and entertainment venues such as Comerica Park, Ford Field and the Opera House makes it a highly attractive location for a wide range of businesses,” said W. Emery Matthews, Chief Investment Officer, MayfieldGentry Realty Advisors. Mr. Matthews added that existing tenants renewed more than 26,000 square feet of space in Grand Park Centre in 2009.
GWE is a Michigan-based civil engineering and surveying firm specializing in serving public, private, and institutional clients with infrastructure needs. It also has offices in Rochester Hills and Washington Township.
MayfieldGentry Realty Advisors
Based in Detroit, Mich., MayfieldGentry Realty Advisors, LLC. is one of the fastest-growing real estate investment managers in the country. Founded in 2003, by Chauncey C. Mayfield, a 25-year veteran of the real estate industry, MayfieldGentry is ranked among the Top 100 investment advisors in the United States by Pensions & Investments Magazine and holds over $1 billion in assets under management. The company controls a national portfolio of commercial real estate assets in excess of 4 million square feet, including assets as diverse as the 513,000-square-foot AMEX Center campus in Phoenix, Ariz., the 301-unit River Place Luxury Apartments in Detroit, the 308,000-square-foot Dublin Town Square shopping center in Dublin, Calif., and the 168,000-square-foot Vista Industrial Park in Vista, Calif. MayfieldGentry’s portfolio now includes the landmark 45-story, 941,354-square-foot One Detroit Center, located in the heart of Detroit, representing the tallest office building in the State of Michigan.
In 2006, MayfieldGentry formed the MGRA Genesis Value Fund, a $150 million value-added fund to acquire a diversified portfolio of properties in specific markets nationwide. The initial close for the fund was in Dec 2007 with the typical investment transaction between $15 million and $20 million. Now with approximately 20 associates, MayfieldGentry takes a strategic hands-on approach to each property it acquires, deploying repositioning strategies, construction/development, leasing and other value-added disciplines as necessary, to build value for its investors.