The Herrick Company Sells Huntington Tower Office Building In Detroit For $156 Million

The sale involves a 21-story office building known as Huntington Tower, situated at 2025 Woodward Avenue in Detroit, MI. The structure encompasses 203,300 square feet of office space and features 10 floors of office space, structured parking, and a ground-floor bank. The sale price for the property was $156,000,000, which translates to a price per square foot of $767.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $156,000,000
• Address: 2025 Woodward Avenue
• Market: Detroit, MI
• Square Footage: 203,300 SF
• Price per Square Foot: $767
• Seller: The Herrick Company
• Broker: Raymond Jonna - Colliers

The transaction was facilitated by Colliers, representing The Herrick Company as the seller. The agreement includes a long-term net lease to Huntington Bancshares and is noted to be a significant milestone in the Detroit office market, likely marking the highest price for an office transaction in the city’s history.