P.A. Commercial Facilitates Sale of I-96 Office Center for $4.6M
(November 14, 2024, Livonia, MI) P.A. Commercial is pleased to announce the successful sale of the I-96 Office Center, a four-building office park in Livonia, Michigan, consisting of 73,972 square feet. The property was 93% occupied at the time of sale, with key tenants including State Farm Insurance, National Home Lending, Great Lakes Women’s Business Council, Vision Realty Center, and Team Rehab Physical Therapy.
The sale, which closed at $4.6 million, was facilitated by P.A. Commercial’s Matt Schiffman and Peter Ventura, who represented the buyer. This marks the third property acquisition that P.A. Commercial has completed for this investor, as they continue expanding their Livonia portfolio.
“We are thrilled to have assisted our client in securing this high-occupancy office park,” said Matt Schiffman. “This acquisition further strengthens their portfolio, demonstrating that demand for office investments remains strong, especially for properties with solid tenant rosters and high occupancy rates.”
Peter Ventura has worked with the previous property owner for decades, as they have developed over 500,000 SF of office space in Livonia and surrounding communities. “It was a pleasure to work with both the developer and the new owner on this transaction, and we look forward to continuing our partnerships with both clients in the future,” said Ventura.
The I-96 Office Center sale underscores the ongoing interest from commercial real estate investors in stable, income-producing office assets, even in the evolving post-pandemic market.