Macomb County accounted for the largest lease volume among area submarkets
Macomb County accounted for the largest lease volume among area submarkets
Detroit's retail leasing volume of 3.49 million square feet in 2024 was down 18.1% from the prior year. This recent reduction reversed a trend of leasing volume ticking upward sinc...
Property changes hands for more than $14 million
Kirco Manix, a commercial real estate development, construction and property management organization, has sold a 113,687-square-foot medical building in Rochester Hills, Michigan, ...
Latest signal emerges that national occupancy rate may be near a turning point
The combined occupancy rate for all U.S. industrial properties dropped further in recent months as vacant distribution centers complete construction faster than tenants can lease t...
Affiliate of Mitsubishi Steel set to move in June
Automotive systems and component firm MSSC Inc. has signed a lease for 10,843 square feet of office space at Maple Research Park in Troy, Michigan.
Eastland Commerce Center gets new tenant
A California-based home goods delivery and installation company acquired by Home Depot in 2023 has leased 104,353 square feet of industrial space at Eastland Commerce Center in Har...
Northgate sells 137,000-square-foot industrial property
An industrial building that previously operated as a distribution center for home improvement store Lowes has a new owner.
Modest construction pipelines limit oversupply
National rent growth has slowed significantly since the first quarter of 2022, from 9.9% to just 1.0% for 2024's fourth quarter. Weakness in national rent growth stems largely from...
Few construction projects have begun since mid-2024
As of early 2025, only 2.7 million square feet of industrial space is under construction in Detroit, nearly the lowest level over the past 10 years. Meanwhile, construction starts ...
Retail landlord is clustering properties in high-growth markets
Retail landlord Brixmor Property Group capped last year by adding four grocery-anchored shopping centers to its portfolio for $211.8 million, expanding its footprint of clustered p...
Balance of supply and demand narrows to smallest gap since 2021
National multifamily rent growth slowed slightly to close out 2024 following a seasonal slump in apartment demand and a sustained surge in new supply.
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Auto sales gain momentum
Landlord Innovative Industrial Properties hasn’t been paid $4.2 million in December rent
Cannabis company PharmaCann has defaulted on its rent payments to landlord Innovative Industrial Properties as the legal marijuana industry struggles.
Property is located near automotive manufacturers in Motor City
Major moving company Allied Van Lines has expanded its operations in Romulus, Michigan.
Recovery continues from previous two years' tepid demand
Due to shifting renter preferences and less supply-side competition, Detroit's multifamily sector continues to rebound from weakened demand over the past few years through 2024, pr...
Providence, Rhode Island, and Hartford, Connecticut, outperform despite lagging regional trends
Nearing the end of the year, two Northeastern markets stand well ahead of their peers for the pace of multifamily rent growth increases.
Hewson and Van Hellemonth, P.C. will move into Oxford Pointe Office Center
Law firm Hewson and Van Hellemonth, P.C. has signed a six-year lease for 17,025 square feet at Oxford Pointe Office Center in Southfield, Michigan. The firm plans to move into the ...
Avancez Assembly signs 224,589-square-foot lease in Harper Woods
Automotive supplier Avancez Assembly has signed a five-year lease for 224,589 square feet of space at Eastland Commerce Center in Harper Woods, Michigan.
Industrial sales dominate total sales volume
Nearing the final days of 2024, the sales volume of commercial properties in the Detroit area continues to decline from the record-setting levels of a few years ago, falling back t...
Plan calls for demolition of two towers, creation of riverfront entertainment district
The landmark Renaissance Center office complex in Detroit, the longtime headquarters of General Motors, could be downsized and upgraded as part of a new proposal floated this week.
New hires, promotions and other personnel changes
Colliers boosts Tri-State capital markets team