United Wholesale Mortgage to Incorporate Michigan Sports Complex Into Corporate Campus
Company Buys Ultimate Soccer Arena in Pontiac for $23.3 Million
Ultimate Soccer Arena
United Wholesale Mortgage has acquired the Ultimate Soccer Arena complex in Pontiac, Michigan, where it plans to incorporate the building into the company's headquarters campus while continuing to operate a portion of the facility as a sports and entertainment complex.
The mortgage company paid $23.3 million for the 378,399-square-foot, multi-purpose facility that sits just down the street from UWM's headquarters at 867 South Blvd.
The complex consists of several buildings including a 32,000-square-foot, two-story office building that UWM plans to greatly expand and merge into a corporate campus that now totals nearly 2 million square feet. Upon its completion later this year, the expanded office building is expected to house 2,000 employees, according to a release from the company.
The remainder of the facility is set to be rebranded as the UWM Sports Complex and will continue to serve as a sports and activity complex for the company as well as host youth and adult soccer and lacrosse. The Detroit Medical Center also has physical therapy treatment centers on site that are expected to remain in place.
The complex hit the market last January with an asking price of just under $27 million. Marketed by Dominion Real Estate Advisors, the property was pitched for its potential as an industrial facility, including warehousing, manufacturing and distribution. The site totals nearly 33 acres, including 7.79 acres of surplus land.
Founder and developer George Derderian developed the complex in 2007 to be one of the region's premier indoor-outdoor sports complexes. Since its opening, the facility has welcomed 1.3 million athletes and visitors.
As part of the agreement, Derdarian will lease back the portion of the complex for sports programs.