Farmington Hills, MI – (August 5, 2021) Friedman Real Estate provided advisory and brokerage services to the City of Southfield for the recent sale of the former Northland Mall property in Southfield, Michigan.
After a lengthy RFP process, Friedman was hired in July 2017 to act as the city’s real estate consultant and broker. Friedman was responsible for an extensive omni and multi-channel marketing campaign to promote the unique redevelopment opportunity to potential bidders nationwide.
During the four-year assignment, there was significant interest in the project from around the country, and Friedman assisted the City in qualifying potential developers as to their experience, financial capabilities, and willingness to adhere to the City’s vision for creating a true mixed-use development at the former mall site.
Friedman’s Rich Deptula represented the buyer, Contour Development in the transaction. Rich first engaged with Contour in November 2019, working through a wide range of due diligence items until successfully closing on the sale July 30, 2021.
In keeping with the City’s plan for the site, Contour will build a phased development consisting of new residences, coupled with new commercial space and amenities. Contour’s plan includes a creative re-use of the former J.L. Hudson Company Department Store building – creating the new Hudson City Market – a unique food, entertainment, and home furnishing venue.
Friedman worked with and would like to thank: The Southfield City Council, The Southfield City Staff, The Southfield Downtown, Development Authority, Southfield Economic Development, Miller, Canfield, Paddock, and Stone, OHM Advisors, Hubbell, Roth and Clark, Dawda, Mann, Mulcahy, and Sadler, and AKT Peerless.
Andrew Ledger, Friedman’s Managing Director, said, “Friedman was thrilled to be a part of this transformational project which will bring new residences and much needed amenities to the southern portion of the City. After four years of working with the City of Southfield we’re excited that Contour Development will bring the City’s vision to life and we wish them the best for this project”.
About Friedman Real Estate
As one of the largest privately-held full-service commercial real estate organizations in the nation, Friedman Real Estate provides clients with a single point of contact for the full range of Advisory, Property Management, Multi-Family, Brokerage and Construction services that it offers.
Friedman manages more than 100 commercial properties encompassing more than 15M SF and more than 15,000 apartment homes throughout the United States. Friedman’s brokerage team has over 800 current listings with $20 billion in closed transactions. As owners and managers of commercial property for over 30 years, Friedman understands what it takes to achieve results that maximize their clients’ objectives. Additional information is available at friedmanrealestate.com and on LinkedIn, Facebook, Instagram, YouTube, and Twitter.