Browse Tag: Colliers International

Borders Ann Arbor HQ Books $10.5 Million Refinance

borders-hqNew York-based real estate investment banking firm Chesterfield Faring has announced a refinance of the Wickfield Center of Ann Arbor, MI, former corporate headquarters of the bankrupt and liquidated national bookseller chain Borders.

The refinance is in support of a bustling market in the former HQ’s space. The two-building complex, sporting a total of 330,000 square feet of rentable space, was sold to Hughes Properties earlier this year by Colliers International, who has been retained to list the available rental space. ┬áThe South Ann Arbor property has major tenants in Gold Star Mortgage, who is renting 68,000 sq. ft. ┬áColliers itself also rented 16,000 sq. ft to Prime Research, a strategic communication research firm.

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Economic Risks Look Set to Stall the U.S. Office Market Recovery

Thank you to Ross Moore, Chief Economist at Colliers International for contributing this blog post today.

The U.S. office market looks set to finish the year on a more cautious note than earlier in 2011 and halt what had been a modest recovery characterized by a measured degree of optimism and a series of occupancy gains. A clear deceleration in economic activity and a near absence of job creation, however, has cast a shadow over the office space market. With the economy possibly coming close to stall speed, the outlook for the office space market has once again been called into question.

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