Three-Building, 84,531 SF Office Portfolio in Livonia Sold for $5.25M
P.A. Commercial is pleased to announce the closed sale of Westwood Office Park in Livonia, Michigan. The asset closed for $5.25 million.
Westwood Office Park is an 84,531 SF three-building office investment property located off the I-96 service drive on Schoolcraft Rd. The property is currently 94% occupied and home to nine tenants. Two long-term tenants, NYX Inc. and Mastronardi Produce are two of the top employers in Livonia.
Peter Ventura, CCIM and Matthew J. Schiffman at P.A. Commercial represented the seller, Westwood Office Associates, LLC, and had the exclusive listing to market the property.
“We knew that putting together a comprehensive marketing campaign would be crucial to effectively market the property, due to the stay-at-home order. We put together an extremely detailed marketing package and drone video that allowed potential buyers to get a good feel for the property from the comfort of their own homes,” says Matt.
Peter is a veteran broker of 25 years in corporate and investment real estate in the Detroit Metropolitan area. He specializes in office & high-tech property development & leasing and was instrumental in the formation of Westwood Office Associates. He actively consults corporate and investment clients in facility acquisition & disposition. Matthew is a senior associate with P.A. Commercial and has been an active dealmaker in commercial real estate for the last ten years. Matt’s skills encompass negotiating transactions for clients in office, flex, and new construction projects