June 12, 2025
Grand Rapids apartment demand is the healthiest in three years
Approaching the halfway point of 2025, Grand Rapids’ multifamily owners are enjoying the widest gap between renter demand and new supply since early 2022.
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June 12, 2025Real estate advisory company adds managing partner in Detroit office
Mike Sabatini has joined Mohr Partners Inc. as a managing partner and Detroit market leader, after starting his career as a research analyst at Cushman & Wakefield's Detroit office and gaining hands-on experience with supporting tenant and landlord representation.
June 11, 2025KKR-backed global auto supplier files for Chapter 11 bankruptcy
Japan-based Marelli Automotive Lighting has filed for Chapter 11 bankruptcy reorganization in the United States as the debt-laden firm said it's struggling in part due to tariffs.
June 5, 2025Hooters shuts more US restaurants as it pivots to a franchise-only model
The parent of restaurant chain Hooters closed at least 30 of its corporate-owned restaurants spanning multiple states this week as it navigates bankruptcy proceedings and transitions to a franchise-only model.
June 5, 2025Detroit-area office building hits full occupancy
A prominent office building in Royal Oak, Michigan, north of downtown Detroit, has topped off its tenant roster with a lease for 25,948 square feet, with occupancy set to begin Jan. 1 and run till 2037.
June 5, 2025Money handling distributor relocates headquarters
BankSupplies Inc. has acquired a 105,418-square-foot Class A industrial building in Saline, Michigan, for $7.9 million, or $74.94 per square foot.
June 5, 2025R&E Automated buys 92,000-square-foot industrial building in Utica, Michigan
R&E Automated has bought a 92,803-square-foot industrial building at 11650 Park Court in Utica, Michigan, for nearly $10.3 million, or $110 per square foot, with plans to replace leased locations.
May 28, 2025Priority Waste purchases Class A office building
Priority Waste has bought a three-story, 48,320-square-foot Class A office building in Clinton Township, Michigan, for $10 million, or $206 per square foot, from Mid-America Real Estate-Michigan.
May 28, 2025Borderline slump: Canadian travel dip unevenly hits hotel performance in US areas near Canadian border
According to Tourism Economics, recent data from Statistics Canada reveals an ongoing decline in Canadian travel to the U.S., with a 35.2% year-over-year drop in land crossings and a 19.9% decrease in air arrivals in April. This pullback continues to weigh on hotel performance, particularly in markets near the Canadian border. However, a closer analysis suggests that the severity of the impact may be overstated.
May 28, 2025Investors buy Michigan outlet center for $17 million
A factory outlet center on the road between Detroit and Lansing, Michigan, has new owners and a new name after ringing up a $17 million sale.
May 28, 2025Detroit’s office market continues to search for a demand catalyst
Detroit’s office market is experiencing a prolonged period of weak space demand. Net absorption, or the change in occupied space, has been negative for five straight years, and the latest projections see the trend continuing in 2025.
May 23, 2025Hotels on vacation favorite Mackinac Island get $270 million refinancing
KSL Capital Partners has arranged a $270 million refinancing for the 138-year-old Grand Hotel and another hotel on Mackinac Island, the car-free Michigan vacation hot spot.
May 13, 2025Commercial development in downtown Detroit set for another jolt with new riverfront park
Commercial developers have flocked to downtown Detroit in recent years with new restaurants, hotels and office buildings, helping to lift the city from years of economic doldrums. Now, local officials are joining like-minded peers in cities around the country in building parks to stimulate residential development to complement the new commercial amenities.
May 12, 2025Detroit’s retail market is staring down a third straight year of negative space demand
Despite limited supply-side pressure, retail space demand across Detroit has been declining sequentially each year since 2023. That contrasts with other large retail markets nationwide, where tenant move-ins continue to outpace move-outs.
May 6, 2025Yellow identifies an additional $21 million in terminal sales to pay creditors
Yellow reached preliminary agreements to sell 10 truck terminals in the United States, generating about $21 million to pay off creditors as part of the company’s bankruptcy proceedings.
May 6, 2025Lee & Associates grows its Michigan team
Lee & Associates, one of the larger broker-owned commercial real estate firms in North America, has announced the addition of Mohammed “Moe” Al-Thihabawy as senior industrial broker in its Southfield, Michigan, team. The company said that with a strong background in real estate, logistics and operations, Al-Thihabawy brings a strategic, relationship-driven approach to serving clients across the market.
May 1, 2025Ohio-based investment firm adds Canton Gardens to multifamily portfolio
DRA Advisors has sold the 127,100-square-foot, 136-unit Canton Gardens apartments at 8660 Walton Blvd. in Canton, Michigan, to Pepper Pike Capital Partners for $11.35 million, or $83,456 per unit. Current rental rates for the units range from $1,199 to $1,800 per month.
May 1, 2025Michigan’s Venture Plaza goes to Arcturus Healthcare
Venture Plaza Associates has sold its three-story office property in Troy, Michigan, encompassing 68,379 square feet, to Arcturus Healthcare for $7,157,500, or $104 per square foot, on the Ten-X auction platform. The property is prominently situated at the high-traffic intersection of Big Beaver and Livernois roads at 3150 Livernois Road, a prime location in Troy.
May 1, 2025Friedman auctions high-profile Detroit building that houses Canadian Consulate
Friedman Real Estate has auctioned a 21-story office tower at the Renaissance Center, one of downtown Detroit's most prominent properties, to a group led by real estate investment management firm Stockbridge Enterprises Inc. for $9,407,000, or $28 per square foot.
May 1, 2025Top industrial leases recognized for Detroit
Prominent industrial leases signed by DESign USA, Fisher Dynamics and Gonzalez Design Group negotiated by top dealmakers from Signature Associates are among the first-quarter industrial leases recognized by CoStar.
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