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Miller Canfield Advises Receiver in Successful Sale of Cleveland-Area Office Portfolio
Firm represented Farbman Group in court-approved sale of more than 500,000 square feet of office space
Miller Canfield represented Farbman Group, acting in its capacity as court-appointed receiver, in the successful sale of a four-building office portfolio in the Cleveland area. The transaction closed on Aug. 14, 2026, following court approval and was completed within 30 days of the sale order.
The $13 million sale to Michigan-based Opus Commercial Real Estate included Metropolitan Plaza, a 200,000-square-foot office building located at 22901 Millcreek Blvd. in Mayfield Heights, Ohio, and Landerbrook Corporate Center I, II and III, three approximately 113,000-square-foot office buildings in Highland Hills, Ohio. Together, the properties comprise more than 500,000 square feet of Class A office space.
Miller Canfield served as legal counsel to Farbman throughout the receivership and sale process, advising on all aspects of the transaction and facilitating the successful closing. The matter was handled by attorneys Scott Lesser and Nancy Valentine of the firm's Real Estate Workouts Group.
“Receivership sales often involve complex legal, operational and stakeholder considerations, all while working within a court-established framework and timeline,” said Lesser. “Working alongside Farbman's experienced team, we were able to help navigate those challenges, preserve value for the estate and achieve a successful outcome that positions the properties for continued investment under new ownership.”
Farbman Group, a full-service commercial real estate organization headquartered in Farmington Hills, Michigan, served as receiver for the properties and oversaw the management and sale process.
“Successfully moving a portfolio of this size through a receivership and sale requires close coordination among numerous parties and a commitment to keeping the process moving forward,” said Jonathon Margolis of Farbman. “We are pleased to have completed the sale on an accelerated timeline and positioned these properties for their next chapter under new ownership.”
Miller Canfield’s Real Estate Workouts Group regularly represents receivers, lenders, borrowers, investors and other stakeholders in complex restructurings, distressed asset transactions and receivership matters throughout the Midwest and across the country.
