Content area
Full Text
Developer Amson Dembs Development Inc. has purchased some of the most sought-after land in the northwest suburbs: 90 acres near I-96 in Novi.
The Farmington Hills-based company plans to build some of the area's few examples of speculative technology buildings on the sites - which are distributed throughout the Beck West and Beck North corporate parks, near Beck and West roads near the Beck interchange of I-96.
The deal for the property, sold by Farmington Hills-based Northern Equities Group, also marks the first major I-96 corridor commercial land sale in the past 18 months.
The price was not disclosed, but the going rate for land in the area is about $4.50 a square foot. That translates into $196,000 an acre or $17.6 million for 90 acres.
Amson Dembs said it plans to gradually develop $70 million worth of...