DEARBORN, MI-What’s hot on the sales block in Detroit? Think retail.

That’s the concensus from a panel discussion at RealShare Detroit recently.

“There’s been a flurry of activity in the past few months,” says Steve Chaben, vice president of Marcus & Millichap in Detroit. “Right now, the fundamentals are very strong in that segment. On the flip side, you have office and industrial.”

An exception might be in buying property with a single, stable tenant, says Stefan Stration, vice president of Pomeroy Investment. “The competition there is very keen and has been for some time.”

He says slowly – very slowly – interest is also picking up for property that may not be quite as stable, but has potential for lease up.

“There’s a tremendous amount of capital interested in real estate in this market right now,” says Eric Larson, president of CEO of Larson Realty Group. “That could back off some if the stock market picks up, but now there is capital looking for real estate.”

That doesn’t mean lots of properties are changing hands rapidly, Chabren adds. “We have the buy-and-hold Midwestern mentality in this market,” he says. “That’s still a strong factor here.

So strong in fact, that Chabren said there’s not a market that M&M is involved in where the property sales volume is less than in the Detroit region.

“The owners here, at least recently, have seemed to be more interested in refinancing than selling,” comments Jeffrey Shell, senior director at Cushman & Wakefield’s Detroit office.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Dig Deeper


GlobeSt Net Lease Spring 2024Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join now!

  • Free unlimited access to's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including and

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.