Archived

This topic is now archived and is closed to further replies.

Aaron

Wayne Co. to buy Guardian Building

Recommended Posts


Lmichigan    9

Wow, to say this was unexpected and an understatement. The current owners, the Sterling Group, had did quite a bit to the tower and had planned even more (i.e. parking garage), so it's surprsing that a sale is being considered, to me.

But, where in the world is the county getting the money to make this (and other) large purchases?

It will also be interesting to see exactly what the county may be buying these for, as that still seems to be a question, or whether this is all just a big, big stunt to get Farbman to come down on their rent at the Old County Courthouse, which I'd hope Wayne County would remain in.

This all seems so weird, leaving more questions than answers.

Share this post


Link to post
Share on other sites
Jasoncw    0

Yeah, I don't like this too much either.

And the article said that he'd be announcing other things, totaling 30 million. So there's another 15 million worth of building somewhere that's also being bought.

It says executive offices are staying in the old building, so at least it probably won't be getting abandoned. And even though it seems like a lot of money, the money saved in the long term is worth it.

For 15 million, how big of a building could they build themselves, say, on the parking lot next to the CAY building?

Share this post


Link to post
Share on other sites
Lmichigan    9

Actually, all that it says is that Fianco has not yet committed to moving the executive office out of the Wayne County Building, and that's really all he can say since he's in negotiations with the Farbman partnership that owns the building. From what I understand, the executive offices are about the only county offices left in the old courthouse. If Fianco is bluffing, it's one huge bluff.

Share this post


Link to post
Share on other sites
Gangway1111    0

The Gaurdian Building was supposed to be a cathedral of finance, not just some boring government building. They should buy and spruce up the Wayne County Building if anything and get a major bank or accounting firm to buy the gaurdian.

Share this post


Link to post
Share on other sites

Lmichigan    9

Apparently, when the Sterling Group bought it back a few years ago they got it for half this price. It just goes to show how low land and property values are in downtown.

Share this post


Link to post
Share on other sites

  • Recently Browsing   0 members

    No registered users viewing this page.