Arboretum Office Park

Office / ±429,549 SF / Farmington Hills, MI

Purchased a 4-building, Class B office portfolio with 17% overall occupancy from New York-based fund Petra Capital Management in February 2014. Renovated individual building lobbies and atriums with marble flooring, mahogany, and stainless steel wall features. Also added new conference center, cafeteria and wellness spaces to enhance the general tenant experience. Leased the project to several large, credit-worthy tenants, increasing occupancy to 92% before year-end 2015. Building III was 100% leased to TRW and subsequently sold to US Realty Advisors for more than three times our initial acquisition cost. In November 2017, Premier purchased partner Kojaian’s remaining interest in the project, retaining buildings I, II, and R totaling 273,904 SF.