January 2020

Michigan Commercial Real Estate News Roundup

Ashley Capital provides the top headlines and highlights for commercial real estate news in Michigan every quarter. The news updates include the latest property transactions, newest developments, CRE market stats, and other eye-catching stories in the industry.

Detroit Michigan Commercial Real Estate News - Ashley Capital

Michigan CRE News – Q4 2019

The Michigan commercial real estate news roundup for Q4 2019 includes: a new Innovation Campus in Detroit, the Detroit Pistons expanding their facilities, and several acquisitions around Michigan.

Innovation Campus in the Works for Downtown Detroit

The University of Michigan, Related Companies, and Bedrock announced a new collaboration project for downtown Detroit. The upcoming project will sit on a 14-acre site in the city center and will be a Detroit Center for Innovation (DCI). The innovation center will be anchored by a $300M, 190K square-foot center focusing on research and eduction. Read More 

Detroit Industrial Real Estate Absorption Doubles Over 2 Previous Quarters

Detroit’s industrial real estate market is showing no signs of cooling down from its streak according to the most recent statistics from a CBRE report. The only negative statistic in the market was the industrial real estate lease rate that dropped to $6.55 from $6.65 in the previous quarter. Read More 

Ocean West & Other Investors Acquire $250M of Student Housing at University of Michigan

Ocean West Capital Partners, Tiger Alternative Investors Ltd, Korea Investment & Securities Co, and Landmark Properties acquired two student housing portfolios to the tune of $250 million. One of the portfolios possesses two student housing properties next to U of M in Ann Arbor. Read More

Innovative Industrial Purchases Industrial Property in Warren, MI

Innovate Industrial entered into a long-term, triple-net lease agreement with a representative of LivWell Holdings. In return LivWll will complete around $23 million in tenant improvements at the property. Read More

Detroit Pistons Expands Facilities with Performance Center

The $90-million dollar facility named after Ford’s founder, Henry Ford, is the largest of its kind in the National Basketball Association. The performance center anchors a mixed-use property which will eventually provide additional retail and community amenities. Read More

Signature Closes 63K-Square-Foot Hi-Tech Sale in Michigan

Signature Associates negotiated the lease of a 63,470-square-foot hi-tech property space in Madison Heights, MI. Paul Hoge and Gary Stephens of Signature Associates represented the landlord, Jo Drive Ventures, LLC. Read More

REDICO Closes on Partnership for Business Park in Ann Arbor, MI

REDICO, a national, full-service real estate investment and development enterprise, finalized its partnership with the Avis Family on the Avis Farms South development property in Ann Arbor. The Class-A business park sits on 156 acres of land and is zoned for life sciences, technology, research & development, light industrial, and traditional office spaces. Read More