MADISON HEIGHTS, MI-ABN AMRO found warehouse space near other ABN AMRO facilities. Geoff Hill, senior vice president at Grubb & Ellis Michigan's Southfield, MI office, brokers the deal.
SOUTHFIELD, MI-One office broker says that despite industry slowdowns and more incentives being handed out in the face of rising vacancies, many submarkets are still strong in Detroit area. One exception is the Central Business District, says Jim Ketai of Etkin Equities.
PONTIAC, MI-A former mental hospital site is immediately sold to a developer for a technology park and homes. The deal puts the site back on the tax rolls after a 100-year absence.
TROY, MI-Two proposed ordinances that would have limited development of parcels with wetlands or natural features were opposed by developers and lawmakers alike. Mayor Matt Pryor will explore alternatives aimed at saving wetlands.
BINGHAM FARMS, MI-Dennis Dilworth works at a local Colliers office. He is known for his expertise with Fortune 500 companies, closing deals involving 3 million sf of property. In his previous career, he also helped establish state housing authority.
NOVI, MI-Greystone Construction also is running late in building the 63-acre Main Street Novi project, and has had legal troubles with tenants and other brokers. It was given one last chance to catch up last month.
DETROIT-It will be a slow return, says one office broker, but research shows submarkets are just waiting to start up again. One possible reason: property owners have become more aggressive.
COMMERCE TOWNSHIP, MI-The Detroit-based medical firm to build more surgery rooms and facilities in the suburbs to meet a 30% increase in demand over the past five years.
TROY, MI-Kojaian Cos. of Bloomfield Hills says it's ignoring offers to sell the 660,000-sf Top of Troy office building. Instead, it has begun discussing plans to build a mirroring mixed-use tower next door.
DETROIT-It will be a slow return, says one office broker, but research shows submarkets are just waiting to start up again. One possible reason: property owners have become more aggressive.