DETROIT-Grubb and Ellis releases says office rents for class A space in Southeast Michigan have declined slightly, even in the relatively healthy Southfield and Bloomfield Hills submarkets.
PONTIAC, MI-Most city officials have signed off on projects such as removing the Woodward loop, selling city parcels and opening a covered riverbed. Developers will be solicited for certain key parcels.
ANN ARBOR, MI-According to the Detroit Regional Economic Partnership, MSX International has opened its new headquarters in Southfield, and Pfizer has purchased land in Ann Arbor for future laboratory facilities.
FARMINGTON HILLS, MI-The office supply store chain puts nearly 70,000 sf on the sublease market in Jackson, Sterling Heights and Westland, hiring Friedman Real Estate Group to find new tenants.
PLYMOUTH, MI-A 125,214-sf food and beverage center leased to McLane Foodservice, Inc.here will be the starting point for deliveries to fast-food franchise outlets in Indiana, Ohio and West Virginia.
SOUTHFIELD, MI-The retail REIT also may use part of its $10.7 in proceeds from the sale of a Hickory, NC community shopping center to fund future acquisitions and redevelopment projects.
NOVI, MI-The inability of Novi Expo Center to draw a hotel operator to a property at an I-96 interchange results in a lawsuit Adell Bros. Children's Trust, which is trying to void a 40-year lease.
DETROIT-The state gives State Fair Development Group 30 days to pack its bags. The final straw, it says, is a horse center and barn weren't built in time. More important, a $200-million development never materialized.
ANN ARBOR, MI-The blueprint includes a new alternative energy research center and 700-acre tax free zone in nearby York Township for companies that would develop alternative energy sources.