for sale | office ottawa towers i & ii...international area for great corporate headquarters...

PROPERTY HIGHLIGHTS

Managing [email protected] #6502337785

ROBERT PLISKA, CRE, CPA Great value add; outstanding price/foot; updated

Fiber optics;high speed elevators;kitchen

High return possible; currently cash flowing

Move In condition; Oakland County location

Adjacent covered parking for 2600 cars

International area for great corporate headquarters

Minutes from Pontiac/Oakland County International Airport

PRESENTED BY:

The information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for itscorrectness.

All SVN® Offices Independently Owned & Operated.The information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its correctness.

FOR SALE | OFFICE

OTTAWA TOWERS I & II51111 Woodward Avenue | Pontiac, MI 48342

SALE OVERVIEW PROPERTY DESCRIPTION

The Ottawa Towers are part of the Phoenix Center mixed use development.Excellent move in condition. Great corporate headquarters. Fiber opticswithin building. One of the Phoenix Center's most attractive focal points is anelevated landscape park area and outdoor theater, which rests on top of theparking deck. The eight story structures command landmark visibility fromWoodward Avenue, Orchard Lake Road, and Saginaw Street. These highwaysare among Oakland County's most heavily traveled surface arteries. The saleprice includes the two towers but does not include the parking deck,amphitheater or the additional surrounding parcels.

SALE PRICE: $17,500,000

LOT SIZE: 3.25 Acres

BUILDING SIZE: 432,000 SF

BUILDING CLASS: B

YEAR BUILT: 1981

RENOVATED: 2011

ZONING: RC, Research Center

MARKET: Detroit

SUB MARKET: Pontiac

CROSS STREETS: Judson

51111 Woodward Avenue, Pontiac, MI 48342

OTTAWA TOWERS I & IIFOR SALE | OFFICE


ROBERT PLISKA, CRE, CPA


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PROPERTY HIGHLIGHTS

• Great value add; outstanding price/foot; updated

• High return possible; currently cash flowing

• Excellent move in condition; Oakland County location

• Great central metro Detroit location

• Easy access to I-75, M-59, Telegraph Road, Woodward Ave

• Surrounded by Bloomfield Hills, Auburn Hills, Troy,Rochester Hills

• Walking distance to downtown

• International area for great corporate headquarters

• Metro Detroit's great comback market

• Minutes from Pontiac/Oakland County International Airport

• Quality well constructed office

• Recently renovated

• High speed elevators (4 in Ottawa I; 5 in Ottawa II)

• Kitchen

• Sophisticated life safety and fire prevention systems

• Individual heating and cooling zones on each floor

• Fiber optics






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PROPERTY OVERVIEW

The Ottawa Towers are part of the Phoenix Center mixed usedevelopment. Excellent move in condition. Great corporateheadquarters. Fiber optics within building. One of the PhoenixCenter's most attractive focal points is an elevated landscapepark area and outdoor theater, which rests on top of theparking deck. The eight story structures command landmarkvisibility from Woodward Avenue, Orchard Lake Road, andSaginaw Street. These highways are among Oakland County'smost heavily traveled surface arteries. The sale price includesthe two towers but does not include the parking deck,amphitheater or the additional surrounding parcels.

LOCATION OVERVIEW

Strategically located at the center of Oakland County,Michigan. Oakland County has been called one of thewealthiest counties in the country with populations over onemillion. This well established area enjoys an internationalreputation as a major corporate headquarters region. Accessto the buildings are excellent via I-75, M-59, Telegraph Roadand Woodward Avenue. The site is located just south of thecenter of downtown Pontiac, is surrounded by BloomfieldHills, Auburn Hills, Troy, and Rochester Hills. These suburbanareas offer a wide range of residential and lifestyle amenities.

CONSTRUCTION

Quality construction. 4 high speed elevators in Ottawa I and 5in Ottawa II provide convenient vertical transportation.Oversized cabs conveniently accomodate deliveries. Variableair volume systems delivers heating and cooling from ceilingdiffusers. Individual heating and cooling zones on each floorprovide building occupants with maximum environmentalcontrol and energy conservation. Sophisticated life safetyand fire prevention systems. Fully sprinklered. Full loadingdock facilities.

RENOVATION

Property refurbished and uprgraded in 2008-2011 with HVAC& elecrical efficiency and various upgrades. New roof in 2015.

PARKING

Covered garage parking is available for more than 2600surface spaces.








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51111 Woodward Avenue








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INCOME SUMMARY OTTAWA TOWERS PER UNIT

GROSS INCOME $1,725,700 -

EXPENSE SUMMARY OTTAWA TOWERS PER UNIT

GROSS EXPENSES $855,700 -

NET OPERATING INCOME $870,000 -






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SUBJECT PROPERTY

51111 Woodward Avenue | Pontiac, MI 48342

$17,500,000Sale Price: 3.25 ACLot Size:

1981Year Built: 432,000 SFBuilding SF:

$40.51Price PSF:

CITY CENTER BUILDING888 W. Big Beaver Rd | Troy, MI 48084



$70.58Price PSF 03/03/2016Closed:

40%Occupancy:

1

1

2600 W BIG BEAVER2600 W. Big Beaver Rd | Troy, MI 48084




80%Occupancy:

2

2

3499 W HAMLIN RD3499 W Hamlin Rd | Rochester Hills, MI 48309




0%Occupancy:

3

3




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840 W LONG LAKE RD840 W Long Lake Rd | Troy, MI 48098




4

4

880 W LONG LAKE880 W Long Lake Rd | Troy, MI 48098




5

5

REO sale

STONERIDGE II40950 Woodward Ave | Bloomfield Hills, MI 48304




6

6

2601 CAMBRIDGE CT2601 Cambridge Ct | Auburn Hills, MI 48326




7

7




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THE CENTENNIAL100 E Big Beaver | Troy, MI 48083




8

8




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51111 Woodward Avenue | Pontiac, MI 48342SUBJECT PROPERTY

1 888 W. Big Beaver RdTroy, MI 48084

CITY CENTER BUILDING 2 2600 W. Big Beaver RdTroy, MI 48084

2600 W BIG BEAVER 3 3499 W Hamlin RdRochester Hills, MI 48309

3499 W HAMLIN RD

4 840 W Long Lake RdTroy, MI 48098

840 W LONG LAKE RD 5 880 W Long Lake RdTroy, MI 48098

880 W LONG LAKE 6 40950 Woodward AveBloomfield Hills, MI 48304

STONERIDGE II

7 2601 Cambridge CtAuburn Hills, MI 48326

2601 CAMBRIDGE CT 8 100 E Big BeaverTroy, MI 48083

THE CENTENNIAL






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SUBJECT PROPERTY PRICE BLDG SF PRICE/SF CAP

Ottawa Towers I & II51111 Woodward AvenuePontiac, MI 48342

$17,500,000 432,000 SF $40.51 -

SALE COMPS PRICE BLDG SF PRICE/SF CAP CLOSE

1City Center Building888 W. Big Beaver RdTroy, MI 48084

$21,000,000 297,530 SF $70.58 N/A 03/03/2016

22600 W Big Beaver2600 W. Big Beaver RdTroy, MI 48084

$35,000,000 450,000 SF $77.78 N/A 07/20/2015

33499 W Hamlin Rd3499 W Hamlin RdRochester Hills, MI 48309

$12,500,000 127,278 SF $98.21 N/A 02/01/2016

4840 W Long Lake Rd840 W Long Lake RdTroy, MI 48098

$13,650,000 187,759 SF $72.70 N/A 10/21/2014

5880 W Long Lake880 W Long Lake RdTroy, MI 48098

$11,000,000 197,536 SF $55.69 N/A 02/20/2014

6Stoneridge II40950 Woodward AveBloomfield Hills, MI 48304

$9,130,375 110,544 SF $82.59 N/A 10/02/2015

72601 Cambridge Ct2601 Cambridge CtAuburn Hills, MI 48326

$20,260,792 177,000 SF $114.47 N/A 02/02/2016

8The Centennial100 E Big BeaverTroy, MI 48083

$7,560,000 306,720 SF $24.65 N/A 04/15/2013

PRICE BLDG SF PRICE/SF CAP

TOTALS/AVERAGES $16,262,646 231,796 SF $70.16 -








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SUBJECT PROPERTY

51111 Woodward Avenue | Pontiac, MI 48342

SFLease Rate: 0 SFSpace Size:1981Year Built: 3.25 ACLot Size:

880 W. LONG LAKE880 W. Long Lake | Troy, MI 48098

$19.50 SFLease Rate: 88,950 SFSpace Size:1999Year Built: 197,536 SFBldg Size:06/28/15Lease Date 55%Occupancy:

1

1

Molina Healthcare Lease. Rental rate per listing.

5555 NEW KING ST5555 New King St | Troy, MI 48098

$18.50 SFLease Rate: 68,294 SFSpace Size:1985Year Built: 113,300 SFBldg Size:60 monthsLease Term: 02/14/14Lease Date62%Occupancy:

2

2

Siemens Lease; Rental rate per listing.

901 WISLHIRE BLVD901 Wilschire Blvd | Troy, MI 48084

$19.50 SFLease Rate: 36,000 SFSpace Size:1999Year Built: 186,954 SFBldg Size:120 monthsLease Term: 04/01/14Lease Date90%Occupancy:

3

3

Northwestern Mutual Lease; Rental rate per listing.






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800 TOWER DR800 Tower Dr | Troy, MI 48098


4

4

Aerotek Lease; Rental rate per listing.

2600 S. TELEGRAPH RD2600 S. Telegraph Rd | Bloomfield Hills, MI 48302


5

5

Logicalis Lease; Rental rate per listing.

37101 CORPORATE DR37101 Corporate Dr | Farmington Hills, MI 48331

$19.50 SFLease Rate: GrossLease Type:25,624 SFSpace Size: 128,829 SFBldg Size:05/15/15Lease Date 80%Occupancy:

6

6

Panasonic Automotive Systems Company of America; Rental rate per listing

3000 TOWN CENTER3000 Town Center | Southfield , MI 48075

$21.75 SFLease Rate: GrossLease Type:43,530 SFSpace Size: 1975Year Built:583,982 SFBldg Size: 132 monthsLease Term:05/01/15Lease Date 60%Occupancy:

7

7

Hello Word Lease. Rental rate per listing,




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51111 Woodward Avenue | Pontiac, MI 48342SUBJECT PROPERTY

1 880 W. Long LakeTroy, MI 48098

880 W. LONG LAKE 2 5555 New King StTroy, MI 48098

5555 NEW KING ST 3 901 Wilschire BlvdTroy, MI 48084

901 WISLHIRE BLVD

4 800 Tower DrTroy, MI 48098

800 TOWER DR 5 2600 S. Telegraph RdBloomfield Hills, MI 48302

2600 S. TELEGRAPH RD 6 37101 Corporate DrFarmington Hills, MI 48331

37101 CORPORATE DR

7 3000 Town CenterSouthfield , MI 48075

3000 TOWN CENTER






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SUBJECT PROPERTY PRICE/SF/YEAR AVAILABLE SF BLDG SF # OF UNITS OCCUPANCY %

Ottawa Towers I & II51111 Woodward AvenuePontiac, MI 48342

N/A 0 SF 432,000 SF - 20.0%

RENT COMPS PRICE/SF/YEAR AVAILABLE SF BLDG SF # OF UNITS OCCUPANCY %

1880 W. Long Lake880 W. Long LakeTroy, MI 48098

$19.50 88,950 SF 197,536 SF - 55%

25555 New King St5555 New King StTroy, MI 48098

$18.50 68,294 SF 113,300 SF - 62%

3901 Wislhire Blvd901 Wilschire BlvdTroy, MI 48084

$19.50 36,000 SF 186,954 SF - 90%

4800 Tower Dr800 Tower DrTroy, MI 48098

$18.50 31,677 SF 218,000 SF - 12%

52600 S. Telegraph Rd2600 S. Telegraph RdBloomfield Hills, MI 48302

$23.00 40,513 SF 90,288 SF - 40%

637101 Corporate Dr37101 Corporate DrFarmington Hills, MI 48331

$19.50 25,624 SF 128,829 SF - 80%

73000 Town Center3000 Town CenterSouthfield , MI 48075

$21.75 43,530 SF 583,982 SF - 60%

PRICE/SF/YEAR AVAILABLE SF BLDG SF # OF UNITS OCCUPANCY %

TOTALS/AVERAGES $20.04 47,798 SF 216,984 SF 0 57%








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POPULATION 1 MILE 3 MILES 5 MILES

TOTAL POPULATION 10,881 76,208 162,309

MEDIAN AGE 32.5 34.1 36.6

MEDIAN AGE (MALE) 30.4 32.3 35.5

MEDIAN AGE (FEMALE) 34.6 36.1 38.0

HOUSEHOLDS & INCOME 1 MILE 3 MILES 5 MILES

TOTAL HOUSEHOLDS 4,183 29,038 64,469

# OF PERSONS PER HH 2.6 2.6 2.5

AVERAGE HH INCOME $34,524 $51,495 $75,258

AVERAGE HOUSE VALUE $88,574 $115,475 $203,102




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* Demographic data derived from 2010 US Census

1 MILE 3 MILES 5 MILES

Total households 4,183 29,038 64,469

Total persons per hh 2.6 2.6 2.5

Average hh income $34,524 $51,495 $75,258

Average house value $88,574 $115,475 $203,102

1 MILE 3 MILES 5 MILES

Total population 10,881 76,208 162,309

Median age 32.5 34.1 36.6

Median age (male) 30.4 32.3 35.5

Median age (female) 34.6 36.1 38.0








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Robert Pliska, CRE, CPAManaging DirectorSVN | Property Investment Advisors, LLC

Robert Pliska, CRE, CPA serves as owner/managing director for SVN,specializing in the sale, financing, leasing, managing, consulting,auctioning and accelerated marketing of multifamily, retail, office,industrial, hotel and other investment and commercial properties.With over 40 years of commercial real estate experience, Pliska hassecured over $1.5 billion in real estate transactions.

Prior to joining SVN, Pliska served as president and/or officer ofseveral commercial real estate firms. He was the president of afull-service commercial realty firm providing sales, financing, leasing,property management and consulting services. Pliska's pastcommercial development transactions boast millions in volume andranged in product type from office, retail, multifamily, industrial andhospitality. In addition, he assisted in the financing of $500 million inreal estate transactions. As a certified public accountant withPricewaterhouseCoopers, he advised real estate and financialinstitution clients.

Pliska is a local and national speaker, author, radio guest, panelist andsocial media expert for many local and national organizations as theCounselors of Real Estate of the National Association of Realtors, theCommercial Board of Realtors, the state association of Realtors, thestate association of CPA’s, the Chambers of Commerce, CCIM(Certified Commercial Investment Member), the Real Estate AnswerForum and others on investment and commercial real estate. He isquoted in numerous publications as Globe Street, CCIM, theCounselors of Real Estate, local news publications, Midwest RealEstate News and others. He is followed by thousands in social mediaon LinkedIn, Twitter and Facebook. He sits on local, national andinternational Boards.

Pliska's professional activity includes: former president and memberof Detroit Area Commercial Realtors; member and elected chairmanof the Detroit Board of Realtors for the Detroit Metro CommercialInvestment Division; member of the Michigan Association andrecipient of the organization's "Realtor of the Year" award; member ofThe Counselors of Real Estate (CRE) and recipient of the CREdesignation.

Pliska's community involvement includes: officer and/or boardmember of numerous community and non profit organizations,former president and recipient of membership growth awards from aCEO/President's group.

Phone: 248.433.1400

Email: [email protected]

Memberships & Affiliations

The Counselors of Real Estate of the National Assn ofRealtorsNational Association of RealtorsMichigan Association of RealtorsCommercial Board of RealtorsInternational Council of Shopping Centers (ICSC)Michigan Association of CPA'sReal Estate Answer Forum

MI #6502337785

Fax: 248.433.1401

Cell: 313.590.1111

Address: 400 W. Maple Rd

Suite 150

Birmingham, MI 48009

OTTAWA TOWERS I & II | 432,000 SF | PONTIAC, MI

DISCLAIMER


The material contained in this Offering Brochure is furnished solely for the purpose of considering the purchase of theproperty within and is not to be used for any other purpose. This information should not, under any circumstances, bephotocopied or disclosed to any third party without the written consent of the SVN® Advisor or Property Owner, or usedfor any purpose whatsoever other than to evaluate the possible purchase of the Property.

The only party authorized to represent the Owner in connection with the sale of the Property is the SVN Advisor listed inthis proposal, and no other person is authorized by the Owner to provide any information or to make anyrepresentations other than contained in this Offering Brochure. If the person receiving these materials does not chooseto pursue a purchase of the Property, this Offering Brochure must be returned to the SVN Advisor.

Neither the SVN Advisor nor the Owner make any representation or warranty, express or implied, as to the accuracy orcompleteness of the information contained herein, and nothing contained herein is or shall be relied upon as a promiseor representation as to the future representation of the Property. This Offering Brochure may include certain statementsand estimates with respect to the Property. These Assumptions may or may not be proven to be correct, and there canbe no assurance that such estimates will be achieved. Further, the SVN Advisor and the Owner disclaim any and allliability for representations or warranties, expressed or implied, contained in or omitted from this Offering Brochure, orany other written or oral communication transmitted or made available to the recipient. The recipient shall be entitled torely solely on those representations and warranties that may be made to it in any final, fully executed and delivered RealEstate Purchase Agreement between it and Owner.

The information contained herein is subject to change without notice and the recipient of these materials shall not lookto Owner or the SVN Advisor nor any of their officers, employees, representatives, independent contractors or affiliates,for the accuracy or completeness thereof. Recipients of this Offering Brochure are advised and encouraged to conducttheir own comprehensive review and analysis of the Property.

This Offering Brochure is a solicitation of interest only and is not an offer to sell the Property. The Owner expresslyreserves the right, at its sole discretion, to reject any or all expressions of interest to purchase the Property andexpressly reserves the right, at its sole discretion, to terminate negotiations with any entity, for any reason, at any timewith or without notice. The Owner shall have no legal commitment or obligation to any entity reviewing the OfferingBrochure or making an offer to purchase the Property unless and until the Owner executes and delivers a signed RealEstate Purchase Agreement on terms acceptable to Owner, in Owner’s sole discretion. By submitting an offer, aprospective purchaser will be deemed to have acknowledged the foregoing and agreed to release the Owner and theSVN Advisor from any liability with respect thereto.

To the extent Owner or any agent of Owner corresponds with any prospective purchaser, any prospective purchasershould not rely on any such correspondence or statements as binding Owner. Only a fully executed Real Estate PurchaseAgreement shall bind the property and each prospective purchaser proceeds at its own risk.

for sale | office ottawa towers i & ii...international area for great corporate headquarters...

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