PROPERTY CORPORATE HEADQUARTERS OPPORTUNITY HIGHLY VISIBLE BUILDING SIGNAGE WITH I-75 EXPOSURE 125,000 GROSS SQUARE FEET SIX (801) & THREE (803) STORIES ±11,700 to ±25,000 SF FLOOR PLATES 18 COVERED PARKING SPACES PRIME BIG BEAVER LOCATION NEW OWNERSHIP AND MANAGEMENT
The Colliers International has been retained as the exclusive leasing agent of 801-803 West Big Beaver Road, Troy, Michigan (the Property ). Built 1981 to 1983, the Property is comprised of ±125,000 square feet of gross space and features on-site security, a conference facility and an expansive sunlit atrium/lobby. Unique to this building is also an executive interior parking garage. The building consists of two towers that are connected by a glass covered atrium. 801 West Big Beaver, which faces northeast, has a total of six stories while 803 West Big Beaver, which faces southwest, totals three stories. Formerly serving as a hub for a number of Huntington s business units in Michigan, 801-803 West Big Beaver offers potential tenants a unique opportunity to occupy one of the most visible, well located office buildings in Troy. Should a user desire to occupy the entirety of the premise, the building provides efficient floorplates for a single tenant requirement. One of the most notable developments in the area is the 888 West Big Beaver Road project which is located directly across Big Beaver Road and immediately North of the subject property. Coined as the Troy City Center this $130MM+ project has already brought two of several planned outparcels online. Upon completion, the project will be inclusive of a 272-unit apartment tower, an eight story parking deck offering nearly 1,500 parking spaces to serve five retail suites, and five restaurants ranging from fast and casual Shake Shack to the welldesigned Morton s Steakhouse. Additionally, a five story Starwood A- Loft Hotel is planned for development immediately East of the subject property on the parking lot of the PNC Tower adjacent to Granite City. Being situated in the midst of ongoing mixed-use development projects allows the occupants of the building to capitalize on the significant investment targeting the local area. The Property offers a user the opportunity to showcase a uniquely visible dominant presence along Big Beaver Road (coined Troy s Golden Corridor) with significant signage and immediate access to I-75. With a conducive footprint, this asset is a logical candidate for a world headquarters similar to that of the neighboring Kelly Services HQ. K E Y P R O P E R T Y I N F O R M A T I O N ADDRESS BUILDIN G SIZ E ON-SITE P ARKING YEAR BUILT 1981-1983 LEASE RATE TENANT ALLOWANCE 801-803 West Bi g Beaver, Troy, M I 125, 000 Gross Square Fe e t 18 Cove re d Exe cuti ve Space s & ±262 Surface Spaces Negoti abl e TBD
Building BUILDING AREA ±116,000 Rentable Square Fee t, 125,000 Gross Square Feet ROOF CONSTRUCTION Flat Rubber Membrane with rooftop access from third floor & sixth floor NUMBER OF STORIES & FLOOR PLATES Three (803) & Six (801) stories with typical floor plate sizes of ±11,700 to ±25,000 square feet YEAR BUILT 1981-1983 PARKING Rare execu tive parking garage within the building. Features 18 secured spaces. Ample Surface Spaces are available on the lot surrounding the building CONSTRUCTION Reinforced concrete construction EXTERIOR WALLS Exterior of the Property is ou tfitted with a reflective glass separated by concrete sheathing HEATING, VENTILATION, AIR CONDITIONING Comprised of two separate systems RESTROOMS Each floor provides four (4) res trooms up to the third floor. The 801 Tower provides for two (2) restrooms per floor on stories 4 through 6. There is a total of eighteen (18) restrooms ELEVATORS The building has a two (2) separate sets of two (2) elevators that have access to all three floors of the 801 Tower & all six floors of the 803 Tower SECURITY An on-site security guard is present Monday- Friday from 8:30am 6pm. Entrances and elevators include electronic fab key access
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The E X E C U T I V E S U M M A R Y 11
REGIONAL
TROY Immediately north of the Property is the area s premier development project Troy City Center Shoppes. Complementing the existing 300,000 square foot office tower, which was 41% occupied at the time of sale, the purchase was part of a larger mixeduse redevelopment project. The entire project has brought a free standing Shake Shack, a two-story Fidelity Investment office branch and an eight-story parking garage with interior ground floor retails suites. The addition of more restaurants and retail out lots as well as a 272 unit luxury apartment tower is still underway. Troy Galleria, built in 2014, at 600-660 West Big Beaver consists of a Verizon store, Bonefish Grill, Carrabba s Italian Grill and Jersey Mike s Subs. Across the street at 699 West Big Beaver Road stands a newer 2012 vintage Granite City Food & Brewery.
Local
City of Troy is a city located in Oakland County, within the US state of Michigan. The city is considered to be a suburb of Detroit. As of the 2015 census, Troy had an estimated population of 83,270 and a daytime population of more than 170,396. The substantial numbers make Troy the 13th largest city in the state of Michigan and the third largest in the state based on property values. The median home market value is $226,200 and the median household income is $86,465. The city contains an excellent mix of single-family homes along with condominiums, apartments and multi-family complexes. These neighborhoods are found in a city complete with a highranking public school district and world-class shopping, dining and entertainment. Troy is one of Detroit s northern suburbs, located in the heart of Oakland County. Troy is only 20 minutes from the city of Detroit and has easy access to I-696, I-75 and M-59. All three expressways are main arteries within southeast Michigan. In addition to its easy access, Troy is also home to the Oakland/Troy airport. Troy s location offers its residents, employees and visitors a wide variety of recreational and cultural opportunities. The city measures 34.3 square miles with over 900 acres of parkland, two golf courses, and lakes. Troy is considered to be a prime location for new and expanding businesses. Troy s diverse business mix consists of seven million square feet of retail space, 21 million square feet of office space and 16 million square feet of manufacturing space. Troy is broken up into two submarkets, Troy North and Troy South, separated by Wattles Rd (17 Mile). Troy is home to two Fortune 500 companies, Meritor and Kelly Services, and is considered a major financial services hub. PNC Bank, Bank of America and many other financial institutions have regional offices located in Troy. 4,000 flourishing businesses are located within the city while 125,000 people work in the city. Troy, over the years, has received many awards and accolades for its achievements as a community and flourishing business sector. Troy has one of the lowest tax rates in Oakland County and is recognized for its excellent quality of life. The city of Troy was ranked as being the Safest City in Michigan and offers an A+ rated school system. In 2012, Troy was named #1 best city to live in Michigan and 26th best in the nation by CNN Money Magazine. When it comes to its business setting, the city has received top rankings for attracting and retaining entrepreneurial companies for the fifth year.
Oakland Situated in the heart of the Great Lakes region, Oakland County is also one of the most affluent counties in the country. It is home to a highly skilled labor force and a favorable manufacturing composition. The presence of General Motors, Chrysler and Oakland University will continue to provide stability to the metro-area s economy. The ever-changing face of the health care and automotive sectors will drive demand for goods and services in industries such as manufacturing and will be a major driver of income growth while helping to attract skilled labor from other parts of Michigan and neighboring states. Oakland County offers a vibrant and stimulating business and research environment that contends with any submarket. The county is consistently one of the leaders in Michigan for new business start-ups and among the top counties in the nation for overall new businesses and job creation. Oakland County is one of the most affluent counties in the country. It is home to a highly skilled labor force and a favorable manufacturing composition. The presence of General Motors, Chrysler and Oakland University will continue to provide stability to the metro-area s economy. The ever-changing face of the health care and automotive sectors will drive demand for goods and services in industries such as manufacturing and will be a major driver of income growth while helping to attract skilled labor from other parts of Michigan and neighboring states. Oakland County offers a vibrant and stimulating business and research environment that contends with any submarket. The county is consistently one of the leaders in Michigan for new business start-ups and among the top counties in the nation for overall new businesses and job creation. L A R G E S T E M P L O Y E R S # O F E M P L O Y E E S Beaumont 17,896 FCA US 12,564 Gener al Motor s 9,242 As cens ion Michigan 4,408 U. S. Pos tal Ser vice 4,195 Oakland County 3,432 Henry Ford Health 3,405 Tr inity Health 3,098 Magna Inter national 2,199 Comer ica Bank 2,163 R E G I O N A L O V E R V I E W 16
FOR MORE JOHN FRICKE Executive Vice President Office 248-226-1887 John.Fricke@ colliers.com CLINT CONFER Senior Vice President 248-226-1804 Clint.Confer@ colliers.com 2 Corporate Dr, Suite 300 Southfield, MI 48076