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Detroit

$830 million Monroe Blocks project in downtown Detroit breaks ground

December 14, 2018 |

Photo Credit: Bedrock 

Dan Gilbert has officially broken ground on a $830 million redevelopment of a 3.66-acre swath of downtown Detroit to the east of his Quicken Loans Inc. headquarters.

The project by his Detroit-based Bedrock LLC … Read More

Detroit Neighborhoods Receive $35M in Commitments for Improvements

December 13, 2018 |

Detroit neighborhoods will get $35 million in commitments from seven companies, Mayor Mike Duggan and company executives announced today.

AAM (American Axle & Manufacturing), Blue Cross Blue Shield of Michigan, Chemical Bank, Fifth Third Bank, Flagstar Bank, Huntington Bank, and … Read More

More millennials are moving to metro Detroit, according to report

December 7, 2018 |

On Tuesday, Dec. 4, the Detroit Regional Chamber released its annual State of the Region report detailing the economic activity in the metro Detroit area.

The 2018-2019 State of the Region report found that Detroit is performing on par with the rest … Read More

German developer buys historic New Center apartment complex for $2.6 million

December 6, 2018 |

A German real estate investor and developer has purchased the Seward Plaza Apartments in New Center for $2.6 million and plans “significant” improvements.

Optima Seward LLC, a subsidiary of Munich-based Optima Aegidius Group, made the deal late last … Read More

Commercial mortgage-backed securities market rises

December 4, 2018 |

The commercial mortgage-backed securities market in metro Detroit continues to see marked improvements over the last year.

Industry data from New York City-based Trepp LLC shows an overall positive trajectory for CMBS debt as there are more loans on … Read More

FRIEDMAN’S MIKE KOENIGBAUGER AND AMIT HINGORANI SELL A 40,906 SQUARE FOOT INDUSTRIAL BUILDING IN DETROIT, MI

November 29, 2018 |

Farmington Hills, Michigan (November 29, 2018) – Friedman Real Estate, one of the nation’s leading providers of commercial real estate services, recently sold a 40,906 square foot industrial building located at 19045 & 19055 W Davison in Detroit, Michigan.

Mike … Read More

General Motors to Close 5 Plants in U.S. and Canada, Including Detroit-Hamtramck Assembly and Warren Transmission Operations

November 27, 2018 |

Detroit’s General Motors today announced it will close five plants in 2019 in Michigan, Ohio, Maryland, and Canada as part of a larger restructuring plan. The company expects the plan will save it $6 billion by the end of 2020.

Read More

Dan Gilbert selling Greektown Casino-Hotel for $1 billion

November 14, 2018 |

*Photo credit: Costar Inc.

Businessman Dan Gilbert has reached an agreement to sell his Greektown Casino in Detroit for $1 billion.

The buyers are two casino-related firms: Penn National Gaming, a casino operator that owns and operates dozens of … Read More