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October 26, 2012

Dearborn Property Fetches close to $100 per square foot—in under 30 days!

Dearborn Property Fetches close to $100 per square foot—in  under 30 days!

The Thomas A. Duke Company has again closed on the sale of a Dearborn property at a price well above market rate—and in under a month’s time. Making it happen posed us a set of unique challenges.

The 4,500 square-foot Arella Studio office building at 22801 Newman Street had been actively marketed for several years, to no avail. Other brokers saw the property’s drawbacks: its lack of parking and its grade “B” road exposure. Knowing the Duke Company’s professional marketing and creative deal-making abilities, the frustrated ownership hired us, hoping we could do something with these challenges.

We did not disappoint them.

Drawing on the momentum of our recent transactions in that area, we immediately began marketing this building to medical users. Simultaneously, we sought out parking arrangements within the nearby central business district. We secured a qualified buyer and walked this deal through contract negotiations, appraisal, zoning approvals, and an understanding with Dearborn’s Parking Authority.

In less than 30 days we accomplished what other companies had failed to do for years—a successful sale at a price of close to $100 per square foot, well above market average.

To find out how the Thomas Duke Company can do the same for you, contact Frank Rakipi (frakipi@thomasduke.com) or Steve Valli (svalli@thomasduke.com) at 248-476-3700.

Recent Successes