ANN ARBOR, MI—Colliers International said Tuesday that the sale of the former Borders Books corporate headquarters has finally closed to an undisclosed buyer.
The office complex at 100 Phoenix Drive consists of two buildings totaling 330,000 sq. ft. of office space. Colliers International represented the seller, Modern Woodman of America. Gold Star Mortgage has signed a lease for 65,000 sq. ft. Colliers was hired to lease out the remaining space.
“The property is one of the last office buildings in Ann Arbor with any large floor plate space left, said Jim Chaconas, a broker with Colliers, in a statement. “It is an excellent opportunity for any large company that wants to move into the very strong Ann Arbor region.”
Chaconas had said the sale was set to close back in February. He did not divulge the buyer, or explain the two-month hold-off on the sale.