Universal Properties Acquires Seven Mile Crossing

Universal Properties and Management Inc., a Michigan Corporation, recently acquired SEVEN MILE CROSSING, a 347,000 square foot Class A office complex located at I-275 and 7 Mile Road in Livonia on the greater Schoolcraft College campus. The purchase involved a longterm ground lease with Schoolcraft.

Gordon R. A. Fishman, Chairman of Universal Properties, remarked that although other prospective buyers believed the ground lease complicated the purchase, Universal Properties viewed it as an exceptional opportunity to create ties with Schoolcraft College and the community. The Schoolcraft campus is also host to Wayne State University, University of Toledo and it is not far from the University of Michigan. "We believe the campus will be a magnet to companies and individuals in the technology, professional services, engineering and educational fields. We strongly support Schoolcraft College and the academic programs it provides. The location is ideal, strategically set in the midst of Metro Detroit, Ann Arbor, Downtown / Port of Detroit and near the Detroit Metro International Airport."

The Schoolcraft College campus will continue to develop, including the recent announcement of the new World Headquarters of Masco Corporation. David B. Fishman, President of Universal Properties added, “we’re hitting the ground running with a multi-million dollar plan for updating, remodeling and beautification. Prospective and existing tenants are going to like what we're doing, and our intent is to make an impressive gateway to the campus. Deferred maintenance will be systematically corrected and important improvements accomplished. Our real estate model is one of long term ownership."

"We look forward to working with Universal Properties on several initiatives, including improved roadways, IT and security services, conference facilities and other programs,” said Dr. Conway A. Jeffress, president of Schoolcraft College. “The College is proud to be a part of the commercial real estate renaissance on the greater campus and looks forward to promoting increased collaboration between business and education."

Universal Properties specializes in Class A, income-producing commercial real estate with offices in Michigan and California. For additional information please contact Universal Properties and Management, Inc. at (248) 352-9770.