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Signature Associates, UHY to take space in vacant Paradise Valley office building

Signature Associates Inc. and UHY Detroit are taking the top floor in a vacant downtown Detroit office building.

The commercial real estate firm and the accounting company are collectively leasing 7,500 square feet and moving people from their existing downtown locations into the Firm Real Estate-owned building at 230 E. Grand River Ave., the companies announced Monday.

Steve Gordon, founder of Southfield-based Signature Associates, said Monday morning that the company’s employees in the 333 West Fort Street building downtown will move in the next few months to the top floor of 230 E. Grand River Ave. The UHY Detroit office is in the Dan Gilbert-owned Chrysler House high-rise.

“We enjoy a long-term relationship with UHY,” Gordon told Crain’s. “They are our accountant, we do business with them, we represent a lot of their clients and we thought it was time to formalize our relationship.”

That will involve the two companies referring clients to each other. A news release says the Signature Associates/UHY partnership will “give all clients access to a complete range of real estate advisory services, including tax reviews and appeals, leasing and renewal advice, and sale transaction consulting.”

Neither Gordon or Bill Kingsley, office managing partner for UHY, would say how much is being spent on the office build-out. Novi-based DeMaria Construction is the contractor on the project.

“We welcome UHY to the Paradise Valley neighborhood and look forward to working with them to expand their business opportunities and commitment to diversity,” Beatty, who is also a board member of the Paradise Valley Conservancy, said in the release. “UHY recognizes this is a very special area of the city and taking part in celebrating it and helping restore its glory.”

Firm Real Estate, founded by Sanford Nelson and other investors, bought the building for $13.248 million in September 2018.

The other investors include Don Foss, the billionaire founder of Credit Acceptance Corp., considered the first company to offer subprime auto loans; Marvin Beatty, a Detroit developer who is also chief community officer for Greektown Casino-Hotel; and Larry Mongo, the owner of Cafe d’Mongo’s Speakeasy on Griswold Street downtown.

Firm Real Estate primarily focuses its investments in the Eastern Market area.


Posted By: Crain’s Detroit Business on November 16, 2020.  For more information, please click here to read the source article.

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