Arboretum Office Park - Building Three - 34605 West 12 Mile Road, Farmington Hills, MI

Property Type Office - General Office
Property Size 171,332 SF
Lot Size 36.51 Acre
Parking Spaces Avail. 702
Parking Ratio 4.10/ 1,000 SF
Property Tenancy Single Tenant
Building Class A
Year Built 1986

City Farmington Hills, MI
Neighborhood Farmington Hills
Zip Code 48331
Market Detroit

Contacts

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Owner

True Owner

Tenants

Suite Name	Tenant	Leased Space	Rent Price	Lease Type	Space Type	Lease Term
370 17th Street #5500	MERRILL, (303) 446-5500	23,824 SF	$23/SF/YR	Modified Gross	General Office	11/01/2014- N/A
370 17th Street #6000	Morrison & Foerster, (303) 592-1500	10,710 SF	$26/SF/YR	Full Service	General Office	08/01/2013- 07/31/2023

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Documents

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Sales

Purchase Date 30 May, 2017
Purchase Price
Arm's Length True
Buyer Name

Mortgages

Current Lender
Loan Amount
Loan Origination Date

Market Trends

Average Actual Rents in Farmington Hills

Average rents use actual signed leases, aggregated for your specific search area and asset type with Yardi Market Insight. Be confident your price is competitive, with CommercialEdge.

Current Average Rent

Net Rent

$44.3/SF/YR

Recoverables Show detailsHide details

$16.7/SF/YR

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Occupancy & Leasing Activity

Occupancy

83.5%

Lease Spread

-20.5%

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Asking Rents in Farmington Hills Office Market

Office rental rates are based on aggregated data of asking rates.

2020 Avg. Asking Rent $22.82
2020 Office Vacancy Rate 15.28%
2020 Office Completions (SF)

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Tax

Market Value* $28,826,160
Assessed Value $28,826,160

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*The displayed market value represents the assessed value determined by the appropriate local tax/financial authority. It is not the property’s latest sale price or a current market value based on recent area sales.

Frequently Asked Questions

What is the total square footage of Arboretum Office Park - Building Three?

Arboretum Office Park - Building Three totals 171,332 square feet.

When was this property built?

Arboretum Office Park - Building Three was built in 1986.

When was Arboretum Office Park - Building Three last sold?

Arboretum Office Park - Building Three was last sold on 30 May, 2017.

What is the market value for Arboretum Office Park - Building Three?

The market value* for Arboretum Office Park - Building Three in 2021 was $28,826,160.
*This represents the market value determined by the appropriate local tax/financial authority, and not the latest sale price or current market value based on recent sales.

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