REDICO Acquires 150 West Jefferson in Detroit’s Financial District

by Christina Cannon

SOUTHFIELD, MICH. — REDICO has acquired the 150 West Jefferson office building in Detroit’s financial district for an undisclosed price. The 500,000-square-foot, 25-story tower was built in 1989 and is 89 percent leased. Tenants at 150 West Jefferson include Miller, Canfield, Paddock & Stone; Jones Day Gensler; Lockbridge; NORR; Plunkett Cooney; Butzel Long; Starcom/Digitas; and KPMG. Amenities at the property include three restaurants/cafes, a convenience store, dry cleaning service and parking garage. The seller was Georgia-based Piedmont Office Realty Trust, according to Crain’s Detroit Business. The Detroit News reports that the building sold in 2003 for $93.8 million.

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