The Albert Kahn building at 3408-3414 Woodward has been waiting for a perfect tenant since its restoration was completed in summer 2007. And it seems patience has paid off, as Michigan State University has announced it will launch an extension of its music and education colleges there.
MSU signed a seven-year, $490,000 annual lease at the 22,000-square-foot-building, and Adam Nyman of the building's owner and developer Professional Property Management expects to see classes begin there for the fall term of 2009. "I didn't have any designs on any particular tenant at the outset, but I couldn't be happier with this tenant," he says. "This institutional, educational use is phenomenal for that whole community there and, hopefully, will be a spur spur for further development in the area."
The building was formerly a printing press plant and was most recently owned by the American Red Cross. It sat vacant for nearly 25 years. Nyman bought
it in 2005.
Read more about the $2 million restoration of the building
here and
here.
Source: Adam Nyman, PPM
Writer: Kelli B. Kavanaugh
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