Detroit

Lansing Mayor: Think of the Children for $245M Casino

LANSING, MI-In an address Monday night, Mayor Virg Bernero exhorted critics of the downtown casino plan to examine the revenue possibilities for the capital city.

Gilbert Keeps Up Detroit Buying with Fed Reserve Building

DETROIT-After Quicken Loans moved downtown last year, chairman Dan Gilbert hasn’t wasted time in his promise to invest here, buying up nine properties with redevelopment plans.

Habitat Buys Two MF Complexes for $86M

ANN ARBOR, MI-Home to the University of Michigan, Ann Arbor has led the Detroit area multifamily market, with two properties recently garnering more than $41 million each.

DEAL-WRAP
Flagstar Bank Takes Three Floors at Troy Officentre

TROY, MI-The bank will lease almost 100,000 square feet in the 745,000-square-foot complex, in a city that plummeted as the top office market in Michigan. Plus more Midwest news.

Taubman Completes $560M Buy of Three Centers

BLOOMFIELD HILLS, MI-The mall owner/developer sought to buy core properties as Evanston, IL-based Davis Street cut its ownership almost in half.

Gilbert Buys Three More Detroit Buildings

DETROIT-Rock Venture’s Dan Gilbert can be labeled as Detroit’s Man of the Year, as he will close 2011 having purchased about 1.8 million square feet downtown with plans for it all.

NorthMarq Capital Arranges $70M for Aldingbrooke Apartments

WEST BLOOMFIELD, MI-NorthMarq Capital has secured $70 million in refinancing for the Aldingbrooke Apartments project in West Bloomfield, Michigan.

Ford Gains Incentive for 4M-SF Plant Redevelopment

WIXOM, MI-The automaker is remaking its closed Wixom Assembly Plant into a renewable energy park, including a $237 million investment by Townsend Energy Solutions.

Detroit Schools’ Move Opens More Vacant Office

DETROIT-The large district is moving out of most of its leased private office space in four downtown buildings, vacating almost 100,000 square feet from Farbman Group sites.

Compatriot Launches $1B Acquisition Plan With Stake in Village Green

DALLAS-The locally based Sammons Enterprises subsidiary plans to make more entry-level investments in other real estate operating companies.

New Plan to Remake David Whitney Building Moves Forward

DETROIT-A plan to convert the empty David Whitney Building into apartments, retail and a boutique hotel is moving forward.

Viking Partners Fund I Buys Crossroads Town Center

HOWELL, MI-Blue Ash-based Viking Partners Fund I LLC has bought Crossroads Town Center, a shopping center comprising more than 95,600 square feet of space in Howell, Michigan, for an undisclosed price.

New Hard Rock Announced for $410M Casino Hotel

NEW BUFFALO, MI-The Pokagon Band of Potawatomi Indians is building a new nine-story hotel addition and event center, and will add a 12,000-square-foot Hard Rock to this tourist area.

Detroit-Area Mall Gains $51M Refinance

ROCHESTER HILLS, MI-The 375,000-square-foot Village of Rochester Hills, one of the first indoor malls transformed into an outdoor center, is still successful at 98% occupied.

Motown Plans Show of $53M Redo of Broderick Tower

DETROIT-The development group in charge of the apartment-office redo of the former office tower plans to show off some of the floor plans and views on Nov. 5.

Ilitch Hires Larson for Downtown Development

DETROIT-Little Caesars pizza magnate Mike Ilitch is bringing on Eric Larson, CEO of Larson Realty Group, as a consultant to head development plans for the company’s downtown property.

Taubman Posts Impressive 11.7% Sales Jump

BLOOMFIELD HILLS, MI-The mall REIT said in a third quarter conference call Friday that it is working on a handful of new developments in the United States and China.

Trigild Hires On to Sell Troubled Traverse Mall

TRAVERSE CITY, MI-General Growth turned the 590,000-square-foot mall in this tourist town back to its lender earlier this year.

6 Questions for JLL’s Angela Roseboro

CHICAGO-The mega-firm’s chief diversity officer talks with GlobeSt.com’s Robert Carr about how women and minorities are faring in the commercial real estate workforce.

WMU Selects KDC for $60M Campus Redo

KALAMAZOO, MI-Plans for the 35 acres of an old portion of Western Michigan University include possibilities such as a boutique hotel, conference center, apartments and condos.

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Events

Look out for the full 2012 RealShare Conference Series schedule--COMING SOON!
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Upcoming Conferences
Feb.
15
RealShare APARTMENTS EAST
Washington, DC
Mar.
07
RealShare PHILADELPHIA
Philadelphia, PA
Mar.
22
RealShare REAL ESTATE 2012
Los Angeles, CA
Apr.
03-03
RealShare NET LEASE 2012
New York, NY
Featured Event
RealShare APARTMENTS EAST


Multifamily's most influential and knowledgeable executives share their insights and outlooks for the marketplace at our upcoming first annual RealShare APARTMENTS EAST conference!
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Webinars

Charging the Hill: Commercial Real Estate and the 2012 Congressional Agenda

December 07
Critical issues impacting commercial real estate are coming up on the 2012 Congressional calendar, and their outcome collectively will impact all practitioners in this space. Top executives who know their way around Capitol Hill will share their thoughts on the direction this industry could take at the hands of our elected officials.

Featured Event
Protect Your Portfolio From Seismic Risk


This video webinar, presented by GlobeSt.com Thought Leader Partner Engineering and Science, Inc., will give commercial real estate investors a thorough overview of seismic Probable Maximum Loss Reports (PMLs). These reports are especially important for those investing in real estate in areas that are at risk for earthquake damage.
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User's Choice

Distressed CRE Continues to Ebb

WASHINGTON, DC-A forthcoming report from Delta Associates shows that distressed commercial real estate in the United States totaled $166.9 billion in January 2012, down $4.7 billion since October 2011.

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