<rss version="2.0" xmlns:ynewsrss="http://news.yahoo.com/rss.html"><channel><title><![CDATA[Detroit Commercial Real Estate News From CoStar Group]]></title><link><![CDATA[http://www.costar.com/]]></link><description><![CDATA[CoStar Group, Inc. is the leading provider of information services to commercial real estate property investors and sales professionals in the United States and United Kingdom. CoStar's suite of services offers access to the most comprehensive database of commercial real estate information and commercial property listings available in its markets.]]></description><language><![CDATA[en]]></language><category domain="Yahoo"><![CDATA[Business/Real_Estate_and_Housing]]></category><ttl>15</ttl><image><title><![CDATA[CoStar Group, Inc.]]></title><link><![CDATA[http://www.costar.com/]]></link><url><![CDATA[http://www.costar.com/SharedFiles/Common/images/logos/CoStarGroup112.gif]]></url></image><item><title><![CDATA[Furniture Factory Liquidators Leases 18,000 SF]]></title><link><![CDATA[http://www.costar.com/News/Article/Furniture-Factory-Liquidators-Leases-18000-SF/148674?ref=/News/Article/Furniture-Factory-Liquidators-Leases-18000-SF/148674&src=rss]]></link><description><![CDATA[Furniture Factory Liquidators has signed a lease for the entire 18,000-square-foot retail showroom at 15700 Middlebelt Rd. in Livonia, MI.

The former Ethan Allen building was constructed in 1967 on 1.7 acres in the Southern I-275 Corridor submarket of Detroit's Wayne County.

Justin Gaffrey and Viktor Gjonaj with Signature Associates represented the building owner, The Equitable Group, Inc.  Gjonaj also represented the tenant in lease negotiations.]]></description><author><![CDATA[Andrew Rybczynski <news@costar.com>]]></author><pubDate><![CDATA[Tue, 21 May 2013 06:17:21 GMT]]></pubDate></item><item><title><![CDATA[Bosch Automotive Renews 32,500 SF in Kalamazoo]]></title><link><![CDATA[http://www.costar.com/News/Article/Bosch-Automotive-Renews-32500-SF-in-Kalamazoo/148605?ref=/News/Article/Bosch-Automotive-Renews-32500-SF-in-Kalamazoo/148605&src=rss]]></link><description><![CDATA[Bosch Automotive Service Solutions, a leading global supplier of technology and services to the auto industry, signed a five-year lease renewal for its 32,500 square feet in the flex building at 6400 Technology Ave. in Kalamazoo, MI.

The single-story building totals 32,500 square feet in the Oshtemo Technology Park.  The property was built in 2007, and is being managed by First Financial Collateral, Inc.

Kent Ilhardt of Cushman & Wakefield,...]]></description><author><![CDATA[Chris Ulrich <news@costar.com>]]></author><pubDate><![CDATA[Mon, 20 May 2013 01:40:57 GMT]]></pubDate></item><item><title><![CDATA[CoStar's People of Note (May 12 - 18)]]></title><link><![CDATA[http://www.costar.com/News/Article/CoStars-People-of-Note-May-12-18/148651?ref=/News/Article/CoStars-People-of-Note-May-12-18/148651&src=rss]]></link><description><![CDATA[This week's People of Note includes the following markets: Detroit, Charlotte, Phoenix, New York, Charleston, South Florida, and San Diego.
 
DETROIT
Farbman Group Promotes Gutman, Kalil 
By Tim Heise

Farbman Group, a Southfield, MI-based, full-service real estate solutions company, has promoted CFO Andrew Gutman to president of the company. Gutman joined Farbman Group more than 18 years ago. He has worked in several areas of ]]></description><author><![CDATA[Justin Sumner <news@costar.com>]]></author><pubDate><![CDATA[Fri, 17 May 2013 09:02:42 GMT]]></pubDate></item><item><title><![CDATA[Farbman Group Promotes Gutman, Kalil]]></title><link><![CDATA[http://www.costar.com/News/Article/Farbman-Group-Promotes-Gutman-Kalil/148339?ref=/News/Article/Farbman-Group-Promotes-Gutman-Kalil/148339&src=rss]]></link><description><![CDATA[Farbman Group, a Southfield-based, full-service real estate solutions company, has promoted CFO Andrew Gutman to president of the company.  Gutman joined Farbman Group more than 18 years ago. He has worked in several areas of the company, including accounting, marketing, asset management and human resources.

Meanwhile, COO Michael Kalil (pictured, right) will take over management of Farbman's brokerage, NAI Farbman.  Kalil has been with Farbman...]]></description><author><![CDATA[Tim Heise <news@costar.com>]]></author><pubDate><![CDATA[Thu, 16 May 2013 07:18:12 GMT]]></pubDate></item><item><title><![CDATA[Architecture Firm First To Lease In Rock Ventures' Federal Reserve Bldg]]></title><link><![CDATA[http://www.costar.com/News/Article/Architecture-Firm-First-To-Lease-In-Rock-Ventures-Federal-Reserve-Bldg/148600?ref=/News/Article/Architecture-Firm-First-To-Lease-In-Rock-Ventures-Federal-Reserve-Bldg/148600&src=rss]]></link><description><![CDATA[International architectural planning and design firm Rossetti has become the latest Detroit business to move its headquarters into one of Rock Ventures' buildings in downtown Detroit, and the first to lease space in the  eight-story Federal Reserve Bank building  at 160 Fort Street.

Rossetti's team of 60 architects, planners and designers will occupy approximately 13,000 square feet of space on the fourth floor of the 176,834-square-foot building...]]></description><author><![CDATA[CoStar Research <news@costar.com>]]></author><pubDate><![CDATA[Thu, 16 May 2013 01:32:52 GMT]]></pubDate></item><item><title><![CDATA[Sterling Woods Senior Center Sells for $7.7M]]></title><link><![CDATA[http://www.costar.com/News/Article/Sterling-Woods-Senior-Center-Sells-for-$77M/146614?ref=/News/Article/Sterling-Woods-Senior-Center-Sells-for-$77M/146614&src=rss]]></link><description><![CDATA[American House Senior Living Communities and Virtus Real Estate Capital acquired the 78-unit American House Sterling Woods senior living facility at 36430 Van Dyke Ave. in Sterling Heights, MI from Sterling Woods Development LLC for $7.65 million, or about $98,000 per unit.

The multifamily building was delivered in 2005 on 2.6 acres in the Macomb County West submarket, close to residential neighborhoods and retail areas of the Detroit suburb....]]></description><author><![CDATA[Jessica Bisacquino <news@costar.com>]]></author><pubDate><![CDATA[Tue, 14 May 2013 03:44:29 GMT]]></pubDate></item><item><title><![CDATA[Burke Joins Bedrock Real Estate Services]]></title><link><![CDATA[http://www.costar.com/News/Article/Burke-Joins-Bedrock-Real-Estate-Services/148521?ref=/News/Article/Burke-Joins-Bedrock-Real-Estate-Services/148521&src=rss]]></link><description><![CDATA[Bedrock Real Estate Services, which handles Rock Companies' real estate portfolio, has named Sean Burke senior vice president of leasing.

Originally from Detroit, Burke was formerly a retail broker with McDevitt Co. in Philadelphia. He was also the former senior director of real estate for DSW Shoes and held a number of corporate real estate positions with leading retailers.

Bedrock Real Estate Services is handling the leasing of all downtown...]]></description><author><![CDATA[Devon Thorsby <news@costar.com>]]></author><pubDate><![CDATA[Tue, 14 May 2013 12:52:35 GMT]]></pubDate></item><item><title><![CDATA[Meijer Opens 200th Store]]></title><link><![CDATA[http://www.costar.com/News/Article/Meijer-Opens-200th-Store/148520?ref=/News/Article/Meijer-Opens-200th-Store/148520&src=rss]]></link><description><![CDATA[Meijer Inc., a Grand Rapids, MI-based retailer that operates 200 supercenters and grocery stores throughout Michigan, Ohio, Indiana, Illinois and Kentucky, opened its 200th location last week. The 210,000-square-foot store at 4141 Morrish Road is the first of six new stores the retailer plans to open this year in Michigan, Indiana and Illinois. 

The retailer, which opened its first store in 1934, is in the process of investing more than $160 million...]]></description><author><![CDATA[Devon Thorsby <news@costar.com>]]></author><pubDate><![CDATA[Tue, 14 May 2013 12:23:58 GMT]]></pubDate></item><item><title><![CDATA[AR Capital Buys Kohl's Shopping Center in Howell]]></title><link><![CDATA[http://www.costar.com/News/Article/AR-Capital-Buys-Kohls-Shopping-Center-in-Howell/148499?ref=/News/Article/AR-Capital-Buys-Kohls-Shopping-Center-in-Howell/148499&src=rss]]></link><description><![CDATA[AR Capital, formerly known as American Realty Capital, acquired the 88,000-square-foot retail center in Howell, MI, from Weiss Samona Land Development for a price of $12,441,188, or $141.38 per square foot. 

The retail property was delivered in 2003 at 1400 Lawson Dr., west of Detroit. Anchor tenant Kohl's has approximately 11 years left on a triple net lease. Ashish Vakhariya of Marcus & Millichap represented both the buyer and seller. 

Please...]]></description><author><![CDATA[Christopher Anderson <news@costar.com>]]></author><pubDate><![CDATA[Mon, 13 May 2013 12:49:13 GMT]]></pubDate></item><item><title><![CDATA[CoStar's People of Note (May 5 - 11)]]></title><link><![CDATA[http://www.costar.com/News/Article/CoStars-People-of-Note-May-5-11/148478?ref=/News/Article/CoStars-People-of-Note-May-5-11/148478&src=rss]]></link><description><![CDATA[This week's People of Note includes the following markets: Los Angeles, Minneapolis, Washington DC, New Jersey, Chicago, New York, and Indianapolis.
 
LOS ANGELES
Diaz Returns to Cushman & Wakefield 
By Allison Smith

Lalo Diaz has returned to Cushman & Wakefield, Inc. as a market leader for the Downtown Los Angeles market. In his new role Diaz will be responsible for overseeing day-to-day activities, recruitment goals, an]]></description><author><![CDATA[Justin Sumner <news@costar.com>]]></author><pubDate><![CDATA[Fri, 10 May 2013 08:11:27 GMT]]></pubDate></item><item><title><![CDATA[Frankel Associates Sells Ridge Valley Townhomes for $2.8M]]></title><link><![CDATA[http://www.costar.com/News/Article/Frankel-Associates-Sells-Ridge-Valley-Townhomes-for-$28M/148262?ref=/News/Article/Frankel-Associates-Sells-Ridge-Valley-Townhomes-for-$28M/148262&src=rss]]></link><description><![CDATA[Frankel Associates sold the 33-unit Ridge Valley Townhomes at 574-650 Napa Valley Dr. in Milford, MI to Tall Pine Properties LLC for $2.84 million, or approximately $86,000 per unit. 

The 119,247- square-foot multifamily community consists of 40 two-bedroom units in two buildings.  Seven of the units were previously sold as individual condominium units, the remaining 33 units were fully leased at the time of the sale.  Ridge Valley Townhomes were...]]></description><author><![CDATA[Samantha Barnes <news@costar.com>]]></author><pubDate><![CDATA[Thu, 09 May 2013 08:39:11 GMT]]></pubDate></item><item><title><![CDATA[Market Trend: Detroit's Office Deliveries and Construction in Q1 2013]]></title><link><![CDATA[http://www.costar.com/News/Article/Market-Trend-Detroits-Office-Deliveries-and-Construction-in-Q1-2013/147512?ref=/News/Article/Market-Trend-Detroits-Office-Deliveries-and-Construction-in-Q1-2013/147512&src=rss]]></link><description><![CDATA[During the first quarter 2013, two buildings totaling 62,562 square feet were completed in the Detroit market area. This compares to two buildings totaling 15,187 square feet that were completed in the fourth quarter 2012, one building totaling 74,332 square feet completed in the third quarter 2012, and 64,209 square feet in two buildings completed in the second quarter 2012.

There were 31,447 square feet of <a href="http://www.showcase.com/Office-Space-for-Lease" target="_blank">office space</a> under construction at the...]]></description><author><![CDATA[CoStar Research <news@costar.com>]]></author><pubDate><![CDATA[Mon, 22 Apr 2013 09:01:19 GMT]]></pubDate></item><item><title><![CDATA[Market Trend: Net Absorption Positive 42,887 SF for Detroit's Office Market in Q1 2013]]></title><link><![CDATA[http://www.costar.com/News/Article/Market-Trend-Net-Absorption-Positive-42887-SF-for-Detroits-Office-Market-in-Q1-2013/147504?ref=/News/Article/Market-Trend-Net-Absorption-Positive-42887-SF-for-Detroits-Office-Market-in-Q1-2013/147504&src=rss]]></link><description><![CDATA[Net absorption for the overall Detroit office market was positive 42,887 square feet in the first quarter 2013. That compares to positive 557,076 square feet in the fourth quarter 2012, positive 736,003 square feet in the third quarter 2012, and positive 519,509 square feet in the second quarter 2012.

The Class A office market recorded net absorption of negative (52,911) square feet in the first quarter 2013, compared to positive 92,995 square...]]></description><author><![CDATA[CoStar Research <news@costar.com>]]></author><pubDate><![CDATA[Tue, 16 Apr 2013 08:05:36 GMT]]></pubDate></item><item><title><![CDATA[Market Trend: Detroit's Office Vacancy Remains at 18% in Q1 2013]]></title><link><![CDATA[http://www.costar.com/News/Article/Market-Trend-Detroits-Office-Vacancy-Remains-at-18-in-Q1-2013/147505?ref=/News/Article/Market-Trend-Detroits-Office-Vacancy-Remains-at-18-in-Q1-2013/147505&src=rss]]></link><description><![CDATA[The office vacancy rate in the Detroit market area remained at 18.0% at the end of the first quarter 2013. The vacancy rate was 18.0% at the end of the fourth quarter 2012, 18.3% at the end of the third quarter 2012, and 18.6% at the end of the second quarter 2012. 

Class A projects reported a vacancy rate of 15.8% at the end of the first quarter 2013, 15.7% at the end of the fourth quarter 2012, 15.9% at the end of the third quarter 2012, and...]]></description><author><![CDATA[CoStar Research <news@costar.com>]]></author><pubDate><![CDATA[Thu, 11 Apr 2013 08:05:37 GMT]]></pubDate></item></channel></rss>