Marcus & Millichap has been retained to offer the Northland Towers properties in Southfield, Michigan to the investment market. This is an excellent investment opportunity with significant financial upside potential through re-development and re-positioning of the property. The Northland Towers property is comprised of four office facilities, 15530 and 15565 Northland Drive and 20755 and 20905 Greenfield Road, situated on 13.78 acres. Originally constructed from 1963 through 1968, the structures have had a long useful life however the economic viability of the assets in the current form has been greatly diminished by current market factors. With the property age, changing physical environment, demographic shifts and current state of the office leasing market for properties of this kind in far southern Southfield, the property is ideal for re-development. The property has great visibility on three sides from two primary surface streets and an active freeway. The property is compelling in that it is adjacent to the former Northland Mall which is now undergoing a thorough change with new construction of multi-family, retail (Costco) and entertainment properties. The City of Southfield has set forth a new vision for this very visible area, and premium development site. Southfield commissioned a comprehensive re-development plan and the various use concepts have been identified within the new master plan. This will directly connect to the subject site creating essentially an extension of the master plan to include this Northland Towers property. Current zoning and potential use flexibility from the City of Southfield should allow for new construction that will maximize the physical and financial potential of the property. New apartments have been constructed facing Greenfield Rd. and a new Costco Business center has recently opened leading the way in the new construction. The current zoning allows for potential new development of medical, hi-tech, corporate facilities, data center and big box retail as well. The newly formed entity involved in the Henry Ford Providence Hospital may have plans to expand and grow the medical service in this very central location in Oakland County, the 2nd most populous county in Michigan. Also, the primary electric provider in Southeast Michigan, DTE has announced the purchase of a nearby site to build a new power substation capable of 50MW or more of power to the immediate area. This can be a critical provision for all data center groups looking to address the increased demand for rapidly increasing data handling space for Ai and bitcoin mining demands. Using in part the completed market study, the Northland Towers site will be redefined to its highest and best use through a process that will likely span several years, working in harmony with the city and the continuing adjacent re-development. The existing buildings on site were constructed on four individual parcels which allows for flexibility in a possible mixed-use plan. The potential exists to have a multi-phase plan that will provide for possible demolition of some of the buildings, while for a period of time retain the seven-story 59,649 square foot medical building and or the 122,442 square foot Northland Plaza facility. The Northland Towers property is being offered on an un-priced basis allowing for full assessment by investors of all aspects of this outstanding acquisition and re-development opportunity. THE RE-DEVELOPMENT The Northland site is very important to the City of Southfield as it is located just south of City’s marque cluster of five golden skyscrapers known as the Golden Triangle that form the contemporary Southfield Town Center office complex with the Westin Hotel and conference center. The established and nearly adjacent Providence Hospital also has a desire to work in conjunction with the development for additional medical facility needs that are anticipated. The location is adjacent to the Lodge Freeway (M-10), which goes northwest from downtown Detroit through Southfield to West Bloomfield, six miles north of the Detroit/Southfield border. Approximately 140,000 vehicles daily pass by on the Lodge Freeway handling enormous commuter volume daily. Southfield clearly has an aim to make this new master-plan for the 114-acre property an exciting and progressive mixed use development. The large and comprehensive plan guided by the well-known urban planning group, OHM, clearly identifies five distinct districts that a developer can then pursue collectively to work in conjunction with all others on the master-plan. These clearly identified districts include a Central Park, Innovation, Lifestyle, Parks Network and Shopping as sectors that integrate within the entire plan. Overall, the product types that will be developed potentially include a city-center renovation of certain parts of the existing mall structure, hotel, versatile Research & Development space, residential, medical office, retail, senior housing and open, parkland and greenspace areas. As it relates to the Northland Towers property, the probability of what the City of Southfield will approve is now much broader and they will look for cohesiveness and continuity with their new master plan. This will greatly enhance the prospect of success with any new development on the subject parcel. Also, the State of Michigan through the Michigan Economic Development Corporation has several tax incentive programs that will allow a developer to benefit financially from a re-development. The Obsolete Property Rehabilitation Act, Personal Property Tax Relief, and the Commercial Rehabilitation Act (specifically outlined on pages #13 and #14 of this package) could all potentially provide positive incentives to a re-development project. It is important to note that with the current buildings on site and existence of the 11 and nine-story facilities, vertical development potential exists thereby creating greater density for maximizing the income.