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Signature Associates was retained to market a three building
office portfolio totaling 350,000 square feet for MetLife.
These three class 'B' office buildings were located in Troy,
Michigan and also included a 2.5 acre development parcel.
Prominent tenants in the buildings included General Motors,
Textron, Mass Mutual, The New England, Oxford Automotive and
DuPont, among others.
Signature Associates
generated 60 registered buyers featuring 30 buyers from out-of-state
including New York, Illinois, and California. Twelve offers
were delivered to MetLife. MetLife required a 30 day due diligence
period and a 15 day close in order to meet a year end closing
deadline, therefore, a local, all cash buyer was selected
at $30,000,000. The transaction closed as agreed when Signature
Associates delivered 100% of the required 40 estoppel certificates.
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Trinity Health