The city of Ann Arbor is getting some help in selling the Library Lot property above the Library Lane underground parking garage.
City Administrator Steve Powers says CBRE is a real estate firm with experience in this sort of transaction.
"CBRE will be helping develop with city staff the engagement plan, that engagement with stakeholders, that will be a key part of the process," says Powers.
The city hasn't settled on a selling price for the parcel, but turned down a $2.5 million offer from a local hotel operator. City council has expressed a desire to see mixed-use development on the property.