Farmington Hills, Michigan (November 1, 2016) – On October 24th, the Southfield City Council approved the request by the owners of the Galleria Officentre to establish an Industrial Development District for 100 Galleria, 200 Galleria, 300 Galleria and 400 Galleria. With this designation, tenants at the property can now apply for a 100% personal property tax abatement on all new personal property used at the site. New personal property is defined as either owned or leased property which was not previously subject to property taxes in any other jurisdiction within the State of Michigan.
“The City of Southfield is a progressive, business-friendly government willing to work with landlords and tenants to make sure that they have the right financial incentives to be there,” said David Friedman, President & CEO. “These factors contribute to rising success within the city. As a result, you’ll find that many Fortune 500 companies base their operations here.”
ABOUT GALLERIA OFFICENTRE
Galleria Officentre is a 4-building, Class “A” office campus located at 100-400 Galleria, in the heart of the Metropolitan Detroit office market with proximity to all area freeways and easy access to several major traffic arteries including Telegraph, Northwestern Highway, and Twelve Mile Roads. Galleria is one of Southfields most desirable first class office properties and contains a host of full-service amenities including: large, open floor plates, executive covered parking, multiple cafeterias and sundry shops, high-speed data and fiber-optic cabling, and an on-site management office. Major interior improvements to the One Million square foot office park include a state of the art conference center, a video surveillance system, an automated door locking system, and two new full-service cafeterias.
For leasing information, visit: www.friedmanrealestate.com/listing/galleria-officentre.
ABOUT FRIEDMAN INTEGRATED REAL ESTATE SOLUTIONS
As one of the largest privately-held full-service commercial real estate organizations in the nation, Friedman Integrated Real Estate Solutions provides clients with a single point of contact for the full range of Advisory, Property Management, Brokerage and Construction services that it offers.
Friedman manages more than 140 commercial properties encompassing more than 16M SF and more than 10,000 apartment homes throughout the United States. Friedman’s brokerage team has over 800 current listings with $10 billion in closed transactions. As owners and managers of commercial property for 30 years, Friedman understands what it takes to achieve results that maximize their clients’ objectives.
For more information, visit: www.friedmanrealestate.com.