Newmark Arranges 157,642-SF Office Lease at Travelers Tower II in Southfield, Michigan

Newmark has arranged a 157,642-square-foot office lease at Travelers Tower II, a 13-story Class A building located at 26533 Evergreen Road in Southfield, Michigan, the firm announced Sept. 29, 2026.

Newmark Executive Managing Director Daniel Canvasser and Managing Director J.P. Champine represented the landlord, Time Equities, Inc., in the transaction. The tenant was represented by AJ Weiner and Dave MacDonald of JLL.

"This is a significant transaction that represents a meaningful commitment to Travelers Tower II and the Southfield office market," Canvasser said. Champine added that "the property continues to benefit from its strong location, high-quality amenities and ongoing capital investment, and this lease further demonstrates the appeal of well-positioned Class A office assets to today's tenants."

Property and Transaction Details

Travelers Tower II is part of the larger Travelers Towers complex, which comprises two interconnected office buildings totaling 810,460 square feet on a 21-acre site. The complex is supported by a multi-level parking structure and ample surface parking. Following the lease, approximately 33,786 square feet remains available at Travelers Tower II, leaving the building at roughly 92% occupancy.

The property's existing tenant roster includes Lucid Motors, R1, MetLife, Willis Towers Watson, RXO and S&P.

"Securing a lease of 157,000 square feet speaks directly to the strength of the corporate community at Travelers Towers," said Aaron Moore, Asset Manager at Time Equities. "Welcoming a major tenant of this scale complements an already strong mix of global companies and brings Tower II to near-full occupancy."

Capital Improvements Drive Leasing Momentum

Time Equities has undertaken extensive capital improvements at the property since acquiring it. Upgrades include renovations to the fitness center, lobbies, café and restrooms, as well as elevator modernization, HVAC improvements and updated signage and artwork. The complex also offers a conference center, tenant lounge and outdoor patios, along with on-site food and service retail including Tropical Smoothie Cafe, Captain Jay's, Poke Poke, Gateway Deli and Samoon.

"When Time Equities acquired Travelers Towers, our goal was to make the capital investments necessary to drive long-term demand," said Michael Rose, Acquisition and Asset Manager at Time Equities. "Upgrading the building systems, common areas and amenities has allowed us to consistently attract high-caliber tenants looking for quality office space in Southfield."

The property is situated along Evergreen Road with access to I-696, M-10/Northwestern Highway, M-39/Southfield Freeway and U.S. 24/Telegraph Road. It is also proximate to Lawrence Technological University, the Southfield municipal complex, and a range of retail, dining and hospitality options.

Southfield Office Market Context

The transaction is one of several large leases contributing to a period of sustained absorption in Southfield's office market. In the second quarter of 2026, Southfield's office vacancy rate declined 160 basis points to 26.2%, driven by 281,463 square feet of positive absorption. That marked the third consecutive quarter of strong absorption, bringing total absorption over the three-quarter period to 512,877 square feet and reducing the submarket's vacancy rate by 300 basis points.

Travelers Tower II absorbed approximately 204,000 square feet during the second quarter of 2026, making it a primary driver of the submarket's recent performance. Travelers Tower I absorbed an additional 50,000 square feet in the prior quarter.

Southfield's improvement stands in contrast to broader suburban Detroit trends. Metro Detroit's overall office vacancy increased 40 basis points to 21.2% in the second quarter, with suburban vacancy rising 70 basis points to 22.2%, partly due to large-block vacancies in Auburn Hills. Despite Southfield's gains, its 26.2% vacancy rate remains elevated by conventional office-market standards, with recent progress concentrated in large-block leasing activity at well-positioned assets.

Across Metro Detroit, leasing activity improved in the second quarter, with approximately 918,000 square feet signed across 214 deals — up 21% in square footage and 23.7% in deal count from the prior quarter.

About the Firms

Newmark Group, Inc. (Nasdaq: NMRK) reported revenues of more than $3.6 billion for the 12 months ended June 30, 2026, and operates from more than 195 offices with over 10,000 professionals across four continents. Time Equities, Inc. is the owner and asset manager of Travelers Towers. JLL advised the tenant in the transaction through AJ Weiner and Dave MacDonald.

Sources: Newmark press release, Sept. 29, 2026