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Banking

Dan Gilbert proposes Detroit’s tallest building on old Hudson’s site

February 22, 2017 |

Businessman Dan Gilbert is proposing to build what would be Detroit’s tallest building on the old Hudson’s site.

The project would be many things at once — an architectural icon, a hub for technology and the signature element of Gilbert’s … Read More

Wendy’s plans to add 1,000 units by 2020

February 21, 2017 |

Quick-service operator thinks small to grow bigger

Traditional sites are more difficult to open because real estate is more challenged today than it was a decade ago. One-acre sites in high-traffic areas don’t exactly grow on trees. And when they … Read More

2 metro Detroit companies plan investments totaling $4.4 million

February 17, 2017 |

Two metro Detroit companies are preparing for expansions that are expected to create a total investment of $4.4 million and 129 jobs for the local economy, according to the Michigan Economic Development Corp.

Troy-based Detroit Engineered Products Inc., a global … Read More

The Fed is starting to get worried about the $2 trillion commercial real estate market

February 16, 2017 |

The fear of what Fed Chair Janet Yellen on Tuesday – and other Fed governors earlier – called “waiting too long” before raising interest rates is increasingly inserting itself into Fed pronouncements. One of the aspects – and this is … Read More

Ford plans $200M wind tunnel complex in Allen Park

February 15, 2017 |

ALLEN PARK, Mich. (AP) – Ford Motor Co. plans to build a $200 million aerodynamic testing facility in suburban Detroit.

The Dearborn-based automaker announced Wednesday that the wind tunnel complex will be on 13 acres next to Ford’s current … Read More

Report: Payless could shutter up to 1,000 stores

February 13, 2017 |

Dive Brief:

  • Payless is working on a restructuring plan that could entail closing as many as 1,000 stores, Bloomberg reports. A Payless spokesperson declined to comment to Retail Dive on the report.
  • If the footwear retailer can’t come to … Read More

Patterson hints at 1,000 new defense industry jobs

February 9, 2017 |

In his annual update on Oakland County’s successes on Wednesday night, longtime Executive L. Brooks Patterson lauded economic progress in the long-neglected county seat of Pontiac, and hinted at two new multinational defense companies moving to the county of 1.2 … Read More

Commercial real estate indicators signal robust 2017

February 7, 2017 |

Year-end surges in the office, industrial and retail sectors foreshadow robust economic growth across South Florida for 2017, commercial real estate experts say.

A lack of new supply pushed office rents higher, particularly in the downtown corridors, and the optimism … Read More