DETROIT-Lease rates went up while construction was down in the third quarter, says CB Richard Ellis in its third quarter market report. Absorption is up 10% from the same quarter a year ago.
TROY, MI-The Hayman Co. will oversee property management after the $100-million project is complete. The project, about one-third completed, will create more than 700,000 leasable sf on 60 acres.
DETROIT-Milwaukee Investment Co., the owner of four parcels of land near the Detroit River, is close to deal with the city for a sale. The city is having difficulty acquiring land along the riverfront needed for three casinos.
COLUMBUS, OH- Glimcher Realty Trust hires Scott McCarthy as senior vice president for development. McCarthy was vice president development at Taubman Centers.
DETROIT-Administrators at Detroit Metropolitan Airport are considering plans to demolish two of three existing terminals. Smaller airlines have to approve plans for rebuilding.