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Detroit/Grand Rapids
Commercial Real Estate News
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Wayne State University Buys 45,000-SF Flex Bldg.
The 45,000-square-foot NextEnergy Center flex building at 461 Burroughs St. in DetroitCredit: Friedman Integrated Real Estate Solutions Wayne State University purchased a 45,000-square-foot flex building in Detroit from NextEnergy Center in a sale...

Bedrock Secures Final Approval for $618 Million in Tax Increment Financing for Detroit Developments
Rendering of the 35-story Monroe Block tower in DetroitCredit: Bedrock The Michigan Strategic Fund approved $618 million in tax increment financing for Dan Gilbert's real estate investment and development firm, Bedrock, which said the financial assistance...

Passage, Beal Join SVN Stewart Commercial Group
SVN Stewart Commercial Group hired Kyle Passage and Jeff Beal as associate advisors at the firm’s office in Ann Arbor, MI. Passage will focus on Livingston County commercial real estate as well as self-storage investment sales throughout Southeastern...

Detroit’s Re-emergence Prompts Uptick in Value-Add Trades
The 516-unit Sutton Place Apts. at 23275 Riverside Dr. in Southfield, MI The vast number of buildings sprouting throughout the Detroit Downtown submarket is not only elevating the skyline, but also the hopes for the city’s future. Re-emerging demand...

PsyGenics Joins REDICO's Tenant Roster in Detroit
REDICO’s 181,000-square-foot office building at College Park Commons in Detroit PsyGenics, a comprehensive service provider in community mental health specializing in serving the developmentally disabled community, signed an 11,164-square-foot lease...

Contractors Steel Co. Sells 1.4M-SF Industrial Portfolio in $83M Sale-Leaseback Deal
One of the warehouses that sold at 48649 Schooner Dr. in the Michigan Avenue Industrial Park in Belleville, MI New York-based Global Net Lease (NYSE: GNL) purchased five warehouses totaling 1.39 million square feet and leased to Contractors Steel Co...

The Benchmark Group Adds Simsbury Plaza to Growing Portfolio
The 80,349-square-foot Simsbury Plaza shopping center in West Bloomfield, MI The Benchmark Group, an Amherst, NY-based acquisition, development and management company, purchased an 80,349-square-foot shopping center in West Bloomfield, MI from Ramco...

Kaftan Communities Lands $36.3M Loan for The Gables of Troy
The Gables of Troy apartment complex at 500 Coachman Dr. in Troy, MI Kaftan Communities secured a $36.32 million HUD-insured loan to refinance The Gables of Troy, a 544-unit apartment complex at 500 Coachman Dr. in Troy, MI. Cary Belovicz and Steve...

Wagner Joins City Club Apartments
Carie Wagner joined City Club Apartments (CAA) as assistant vice president of management operations at the firm’s Farmington Hills, MI office. In her new role, she will be responsible for helping to develop CCA’s management team, processes and infrastructure...

Industrial Trades Remain Robust Throughout Detroit
The 542,800-square-foot manufacturing building ABB purchased at 1250 Brown Rd. in Auburn Hills, MI Industrial buildings have long been a staple for Detroit construction. Large patches of land throughout pockets of the metro create an ideal environment...

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