Princeton Enterprises Acquires Office Property On Telegraph Road In Southfield, Michigan
26600 Telegraph Road, Southfield, Michigan 48033, United States
Building Size
108,634 SF
Asset Type
Office
Closing
Mar 7, 2022
About this deal
AI
An office property located at 26600 Telegraph Road in Southfield, Michigan has been sold in a transaction. The property spans a total of 108,634 square feet.
Summary of transaction details
- Property Type: Office
- Transaction Amount: Not available
- Address: 26600 Telegraph Road, Southfield, Michigan
- Market: Southfield, Michigan
- Buyer: Princeton Enterprises
- Seller: First Mercury Insurance Co.
- Buyer's Representative: Jordan Friedman - Friedman Real Estate
- Seller's Representative: Anne Galbraith Kohn - CBRE
The buyer, Princeton Enterprises, acquired the office property located at 26600 Telegraph Road. Represented by Jordan Friedman from Friedman Real Estate, the buyer successfully closed the deal with the seller, First Mercury Insurance Co., who was represented by Anne Galbraith Kohn from CBRE.
Players
Southfield Office Market Snapshot
Boundary boundary · Office · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93