Detroit
Detroit Gets in Gear As Tech Drives Auto Sector
Colliers International Senior Vice President Patrich Jett shares his views on the operational needs and real estate considerations of the automotive industry, as well as Detroit’s position in the sector.
WAFUSA Logistics Relocates, Triples MI Space
Colliers International’s Tim Van Noord brokered the lease, which represents the tenant’s third expansion in Grand Rapids since its 2013 launch.
Historic Hotel in Downtown Detroit Changes Hands
An LLC led by partners Mario Kiezi and Mike Abdulnoor bought The Royal Palm/Park Avenue Hotel and are planning a full restoration of the asset.
LSTC Expands Michigan Office Portfolio
The California-based company acquired the second building that makes up Butterfield Park Place from Wilson Real Estate, closing its eleventh acquisition in the state.
Coyote Logistics to Anchor Detroit Mixed-Use Development
The logistics company is establishing a tech hub on two floors of The Assembly, Bedrock’s redevelopment of a historic warehouse in the city’s Corktown neighborhood.
SRS Expands New Detroit Office Team
First Vice Presidents Michael Carter and Frank Rogers and Associate Joseph Simon will be part of the company’s National Net Lease Group.
Oxford Cos. Arranges MI Flex Building Deal
An Oxford-sponsored investment partnership, Grand Venture Associates, previously bought the Brighton building in 2007. At the time of sale, the asset was fully occupied.
Foster Financial Buys Detroit-Area Office Asset
The seller, Interwest Capital, owned the two buildings located in the Southfield submarket since 2007 and sold them for $5 million.
Friedman Secures 2 Loans for Suburban Detroit Office Assets
The financing totaled $26.5 million and features a 10-year term as well as prepayment flexibility. Director Ryan Denomme originated the loans.
Top 4 Things to Know About Detroit’s Office Market
Colliers Executive Vice President John Fricke touches on the challenges, top amenities, market performance and 2019 trends in the Midwestern metro.