Medical Institution Buys Detroit Office Park
- Mar 01, 2017
Troy, Mich.—Friedman Integrated Real Estate Solutions arranged the sale of North Troy Corporate Park, a 141,464-square-foot office property located at 5505 Corporate Drive in Troy, Mich. Friedman CEO & executive managing director and Associate Broker Robert Gagniuk represented the seller, 5505 NTCC LLC, in this transaction.
The building was acquired by the Oakland County Community Mental Health Authority (OCCMHA), which plans to move its headquarters from Auburn Hills to Troy in late summer. The relocation was planned due to space challenges, which resulted from transitions in service delivery protocols. Over the past two years, OCCMHA assumed several delegated functions from its contracted service network, the organization explained in a news release.
According to Yardi Matrix, the five-story office property was built in 1986 and underwent a renovation in 2015. It offers 759 parking spaces and is located near Interstate 75 and the Crooks exit.
“Our primary goal in purchasing the Troy location is to create a community hub of service excellence that sets the benchmark for public mental health services in Oakland County and throughout Michigan,” Willie Brooks, OCCMHA executive director & CEO, said in a prepared statement. “There should be no confusion about where people can go for assistance to reach their life goals and aspirations.”
The OCCMHA is also changing its name to Oakland Community Health Network to better describe its operating infrastructure, which includes contracts with 30 healthcare organizations and roughly 300 service sites across the county.
Image courtesy of Yardi Matrix