L. Mason Capitani/CORFAC Sells Investment Property in Rochester Hills, MI
Troy, MI (June 9, 2014) – L. Mason Capitani/CORFAC International is pleased to announce that it has sold a 49,686 square foot multi-tenant industrial facility located at 2703-2727 Product Drive in Rochester Hills, Michigan. The building was 100% occupied at the time of closing.
TI Automotive and Gexpro are two of the current tenants occupying the facility. Based on the current net operating income, the building traded at a 9.8% capitalization rate. Jason Capitani and Garry Rogers represented the seller, Kevin Buchanan, in the transaction.
About L. Mason Capitani/CORFAC International
Founded in 1965, L. Mason Capitani/CORFAC International is one of the most established privately held real estate brokerage firms specializing in the sales, leasing and management of industrial, office, medical and retail properties in Michigan. The company’s scope of services include landlord and tenant representation, buyer and seller representation, site acquisition and build to suit coordination. For more information, visit the L. Mason Capitani, Inc. website at www.lmcap.com.
L. Mason Capitani, Inc. is an affiliate member of CORFAC International (Corporate Facility Advisors)which is comprised of privately held entrepreneurial firms with expertise in office, industrial and retail real estate leasing and investment sales, multifamily property acquisitions and dispositions, property management and corporate services. Founded in 1989, CORFAC International is celebrating its 25th anniversary in 2014. In association with FIABCI (the International Real Estate Federation) and global affiliates, CORFAC International offers commercial real estate services with market reach in 60 countries worldwide. Last year CORFAC firms completed more than 10,000 lease and sales transactions totaling approximately 368 million square feet of space valued in excess of $7.4 billion. For more information on the CORFAC network, visit www.corfac.com.