ElmTree Acquires 116,824 SF Office Property in Farmington Hills, Michigan

FARMINGTON HILLS, MICH. — ElmTree Funds has acquired a 116,824-square-foot office property in Farmington Hills. Upon acquisition, ElmTree oversaw a $7 million renovation at the property, which is occupied by Sumitomo Electric Wiring Systems Inc. As part of the same sales transaction, ElmTree acquired eight other buildings in various states totaling 312,974 square feet for $74.1 million. Each property is 100 percent leased. Other properties acquired in the Midwest include a 16,668-square-foot healthcare building in West Des Moines, Iowa, and a 16,694-square-foot healthcare building in O’Fallon, Mo. BioLife Plasma Services LP occupies both properties.