Oxford Companies brings occupancy at 777 E. Eisenhower to 96%; shifts focus to area redevelopment

ANN ARBOR, Mich., Jan. 29, 2019 /PRNewswire/ -- Oxford Companies has recently executed nearly 150,000 square feet of leases at 777 E. Eisenhower Parkway in Ann Arbor, Michigan. Tenants include the University of Michigan, the UAW and Oxford Companies. With these leases, occupancy at 777 has increased from 38% to 96%. Oxford took ownership of the property in August 2018.

The University of Michigan will occupy the building's entire 3^rd, 4^th, 5^th, 6^th, and 10^th floors. The University occupied the 6^th floor prior to this lease. The building's 8^th floor will be occupied by Oxford and the UAW, with the UAW also occupying space on the 9^th floor. With the property now stabilized, Oxford plans to invest approximately $10 million in the property before engaging in improvements to the State/Eisenhower area.

"The Ann Arbor office market has been electric, and the State/Eisenhower area has seen the most activity of any submarket in the past year," says Jeff Hauptman, CEO of Oxford Companies. "Swisher's latest vacancy report states that 'south office area' occupancy [90.3%] is at its highest level since 2000. The numbers we've ran show this number as even higher."

With nearly 2 million square feet of commercial space in the State/Eisenhower area, Oxford now shifts its focus to a vision of creating a more vibrant environment. "We're only one partner in this process, but as the largest private real estate owner, we have a responsibility to invest in this neighborhood," said Hauptman. In conjunction with partners such as the City of Ann Arbor, the University of Michigan and Ann Arbor Spark, the vision of future development in the area includes improved public transportation, increased pedestrian connectivity, and new workforce housing.

About Oxford Companies

Oxford Companies is Ann Arbor's largest commercial real estate services firm. For more than 20 years, they have served the greater Ann Arbor area with fully-integrated service lines, including property management, brokerage, residential leasing, construction and investments. Oxford manages more than 2.7 million square feet of office space, is one of Ann Arbor's largest student housing landlords and employs 90 people. For more information about Oxford Companies, visit, www.OxfordCompanies.com.

SOURCE Oxford Companies

Related Links

http://www.oxfordcompanies.com

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