Galloway and Collens, PLLC
248-284-1990
248-284-1990

Commercial Real Estate Archives

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 to a decreased rental inventory, consumer credit scores and the job market.

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 property and the city agreed on an extension, although some city members expressed their frustration at the delay.

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