DETROIT—Time Equities Inc., a New York-based real estate firm, just acquired Fairlane Meadows, a 157,225-square-foot shopping center in Dearborn, MI for $20.65 million. Purchased from Farmington Hills, MI-based Ramco-Gershenson Properties Trust, the transaction marks TEI's third and largest retail acquisition in the state. And the firm's director of national retail Ami Ziff, who spearheaded this transaction, tells GlobeSt.com that it may not be the last.
“The Detroit area has a lot of hidden gems,” he says. “Some people portray Michigan in a very negative way, but I think that's because they have never been there.” Many of the retail areas even remind him of New York's glittering Soho district.
Located at 5851 Mercury Dr., Fairlane Meadows may not look like Soho, but it is next to the Ford Motor Cos.' world headquarters, which the auto giant has decided to redevelop.
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Brian J. Rogal
Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.
