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Downtown office building near Cobo heads to auction

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Photos courtesy of Friedman Real Estate

The west side of downtown has seen a lot of changes in the past few years, with the opening of the Foundation Hotel, the current rehab of the Detroit Free Press building, and more restaurants opening in the Financial District. Once redevelopment plans for the Joe Louis Arena are revised, we’ll have a clearer idea of what that whole area will look like in the coming years.

At the same time, some buildings are still available for sale or redevelopment. Adient has bailed on the Marquette Building mid-renovation. A 26-story building on Fort Street could go for $55 million, according to Crain’s.

Tucked away past Cobo on Congress Street is this smaller 1950 office building, coming in at 26,666 square feet. According to the listing on Ten-X Commercial, it has new mechanicals and security, and the property comes with 23 adjacent parking spaces. It includes both conference rooms and private offices. It’s not the most architecturally striking building in the area, but it’s close to businesses downtown and in Corktown. The listing states it was recently appraised at $5 million, and the auction’s starting bid is $1.2 million. It’s listed through Steven Silverman at Friedman Real Estate.