SOUTHFIELD, MI—Founded in 1976, Farbman Group manages more than 25 million square feet of office, retail, multifamily and industrial space throughout the Midwest. It recently entered the Milwaukee market by purchasing the Chase Tower for $30.5-million, making it just one of many investors that now sees great value in the region's secondary markets, especially the CBDs. GlobeSt.com recently spoke with the Southfield, MI-based firm's chief executive officer, Andy Farbman, about his company's recent transactions and the forces that will shape the regional office industry in this exclusive Q&A.
Q: What are some of the major trends you're seeing in the Midwest commercial real estate market that will have an impact across the commercial real estate landscape throughout 2017?
A: Debt markets are definitely off to a great start in 2017, with issuances for CMBS, life and alternative lenders all up in volume. Urbanity, density and modernity all are playing a huge role in attracting new projects. Every Midwest city from Detroit to Chicago to Milwaukee has lots of “cranes in the ground.”
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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.
