Commercial Real Estate

Commercial Real Estate

Stress-free real estate transactions are feasible with our help

Real estate properties are some of the most valuable assets owned by Michigan residents, making any action related to them especially significant. Real estate transactions can be some of the most precarious transactions if mishandled. With a great deal of money and emotional investment on the line, securing the best

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What to do when a tenant violates a lease

Dealing with a noncompliant tenant can be challenging for any landlord, but the stakes are often higher in commercial rentals. Commercial rentals can be harder to find tenants for, and moving one tenant out and another in is a much bigger process than with residential rentals. Because of the larger

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Experience is key to resolving commercial real estate disputes

The representation of any Michigan client in a commercial real estate law matter requires an in-depth understanding of common problems and concerns faced by landlords, commercial property owners, real estate management firms and commercial tenants. The more a law firm focuses solely on matters pertaining to real estate, the more

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Building foreclosed – what’s a leasee to do?

Many businesses opt to lease the space in which they work for a variety of reasons. Perhaps they cannot afford the financial outlay required to purchase a space, or they plan to buy a space when the business grows. Whatever the rationale, there are pros and cons to renting office

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Michigan commerical property owners turn to online sale

Across one city in Michigan, property owners are turning to the Internet and online auction to move sales. A building in downtown Detroit isn’t your standard eBay listing, and the property owners are using property-based selling sites such as Auction.com, but the principles of the Internet auction remain the same.

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Blighted commercial properties may be on their way out

Abandoned and dilapidated residential properties have been torn down throughout Michigan after the U.S. Treasury Department allowed money from the “Hardest Hit” foreclosure relief fund set up by the Troubled Asset Relief Program to be used to take down the homes. Now, it looks like the same thing may be

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Michigan property management firm acquires $8.1 million complex

Maplegrove Property Management LLC, a Michigan real estate and property management firm, has finalized a deal to purchase a senior living facility and apartment complex in Ludington. The property management firm will now control the entire housing community, which boasts 172 individual apartments along with an independent senior residential facility.

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Federal Reserve says commercial property sales stronger this year

Commercial property sales have continued to show signs of economic strength this year, according to the Federal Reserve. The Fed issued a report on June 4 regarding the current state of the United States economy in various districts across the nation. Hopefully, some of the favorable commercial property activity referenced

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3 new tenants announced for the Z

Detroit is adding three more tenants to the Z building downtown, evidence that commercial tenants are still looking for space. The commercial building, so named for its zigzag shape that spans from the corner of Library and Gratiot to the corner of East Grand River and Broadway, offers 10 floors,

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Rental rates rising in Michigan

Those with commercial property investments may be seeing an increase in profits. According to an MPF Research survey on the 100 largest U.S. metropolitan markets, effective rents for new leases rose 3.3 percent on average from 2013 to the first quarter of 2014. Rent prices are also slowly climbing due

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Detroit’s commercial property vacancy rate dropping

As the commercial real estate market continues to recover, property vacancy rates are dropping. This is good news for landlords of commercial and industrial spaces. According to an analysis of 20 buildings in the Detroit area, the city’s vacancy rate for high-profile office buildings is down to 11.5 percent, a

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Detroit complex opens up to development proposals

As Detroit’s industrial real estate market continues to attract investors, more and more properties are coming to the forefront. According to reports, the city’s Planning and Development Department is now asking for proposals from developers for the old Herman-Kiefer Health Complex that has been empty since October 2013. The 526,000-square-foot

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Detroit industrial and office construction rebounding

If last years’ numbers are any indicator, new office and industrial construction is boosting the Detroit metro area’s commercial real estate market. According to CoStar Group Inc., a real estate information service, Oakland, Wayne, Livingston, Macomb and Washtenaw counties currently contain 8.5 million square feet of proposed industrial space construction

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Michigan property owners told to clean up

Owning investment properties in Michigan can be a source of supplemental income for landlords renting out to tenants. With this benefit, however, comes the responsibility to take care of the property and meet all maintenance requirements and liabilities. If properties are not maintained, landlord-tenant issues may ensue or there could

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Michigan man seeks help with danger in rental home

In most cases, responsibility for the safe upkeep of a rental property resides with the landlord unless other provisions are made in a lease. Tenants who notify property owners of issues may have a case for a claim if personal injury occurs because the owner neglected to take action. For

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Delay in Michigan lakefront property developement

On Jan. 14, the owners of property on Muskegon Lake sought and received additional time to work on developing the property. However, that goal doesn’t seem any more attainable than it did more than 10 years ago when it was first suggested. The current owner of 34 acres of lakeside

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Michigan furniture stores to close

A furniture company that has operated four retail stores in Flint Township for more than 17 years will close those locations permanently after the President’s Day holiday weekend. The commercial property closures were based on a number of factors, but the chief marketing officer of the company did not clarify

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Developer explains reasons behind area’s commercial growth

Michigan residents may be interested in the reasons behind renewed commercial growth along a busy route in one of the state’s cities. Stadium Drive in Kalamazoo has seen increased commercial growth for several years. According to the chief operating officer for Hinman, a commercial property development company, there are numerous

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Detroit prepares for Lawrence Tech Building

A large downtown building project will commence soon when Midtown Detroit Inc. breaks ground on a 30,000-square-foot commercial building on Woodward Avenue and West Willis Street. The anchor tenant for the commercial property will be Lawrence Technological University. This development is being funded by a variety of Midtown Detroit merchants

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Property owners end lease after allegations against tenant

Property owners leasing space to a spa that was allegedly involved in prostitution in Michigan has come to an agreement with prosecutors. On Dec. 20, prosecutors submitted the agreement, which ended the lease, to a Genesee Circuit judge. Previously, on Dec. 11, a county prosecutor received a temporary restraining order

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Possible compromise in Michigan property dispute

Plans for two apartment buildings in Eastown hit a snag when community stakeholders became concerned about the loss of commercial possibilities in the properties. Stakeholders included local community and business organizations, neighborhood residents, city planners and staff and real estate experts. A plan was submitted for residential space as well

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Investors flocking to Western Michigan

A study released in September indicated that Grand Rapids was second in the nation for job growth from 2010 to 2013 and pinpointed the metro area as a magnet for the manufacturing and health care industry. Real estate investors have made the connection between the growth of the income and

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Chinese company buys Chase building

The 60-story building in Lower Manhattan known as One Chase Manhattan Plaza has been sold by JPMorgan Chase to a Shanghai-based conglomerate for $725 million. The buyer has not indicated whether the building, considered a landmark and an important party of New York City’s financial district, will be converted into

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MSU’s Spartan Stadium to get $24.5 million face lift

A lot of planning went into what will become the new Spartan stadium on the campus of Michigan State University. Athletic administrators wanted to give athletes and their families the experience they deserved and the fans a stadium worth cheering in. But there was a lot to hammer out before

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