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Michigan Markets Commercial Real Estate News Brief: June 2017

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In the latest edition of our monthly news brief, JLL’s regional team curates the top commercial real estate industry articles impacting Michigan markets to keep you in-the-know.

Keep up with Spaces’ monthly recaps—subscribe today.

District Detroit Welcomes Residential Development Boom

District Detroit, the city’s major upcoming entertainment development, has announced plans for the city’s largest residential development in more than 20 years. The upcoming project will include the renovation of historic buildings as well as new construction.

Among buildings being redeveloped for multifamily housing, are:… Read More

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Categories: Ann Arbor Commercial Real Estate News, Commercial Real Estate News, Commercial Real Estate Trends, Detroit Commercial Real Estate, Grand Rapids Commercial Real Estate, Industrial Market, Jones Lang LaSalle, Multifamily Real Estate, Technology Outlook and tagged , , , , , , .

Michigan Markets Commercial Real Estate News Brief: May 2017

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In the latest edition of our monthly news brief, JLL’s regional team curates the top commercial real estate industry articles impacting Michigan markets to keep you in-the-know.

Keep up with Spaces’ monthly recaps—subscribe today.

Major Detroit Developments Put City Among Top 10 for Construction Jobs

Despite a widespread labor shortage among construction workers, the city of Detroit ranked number seven out of the top 10 markets with the highest growth rate. Major downtown and metro developments, like the Little Caesars Arena, sparked most of the growth.

Roughly 21,700 construction workers now work in the Detroit area, which is more than a 15% increase from last year. Large developments, like the Little Caesars Arena, have nearly 1,400 workers onsite per day.

The development momentum isn’t expected to slow down anytime soon. A new $77 million Midtown development is expected to begin construction in fall of 2018. The property will include more than 335 residential units, as well as nearly 8,000 square feet for retail space. Among the jobs that will be created from the site include 200 from the construction industry.… Read More

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Categories: Ann Arbor Commercial Real Estate News, Commercial Real Estate News, Commercial Real Estate Trends, Detroit Commercial Real Estate, Grand Rapids Commercial Real Estate, Jones Lang LaSalle and tagged , , , , , .

Michigan Markets Commercial Real Estate News Brief: March 2017

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In the latest edition of our monthly news brief, JLL’s regional team curates the top commercial real estate industry articles impacting Michigan markets to keep you in-the-know.

Keep up with Spaces’ monthly recaps—subscribe today.

Detroit May Soon Welcome its New Tallest Building, More Green Space

Dan Gilbert recently announced a proposal for a $775 million tower to be constructed on the former Hudson’s department store site on Woodward Avenue. The tower, which would stand 734 feet tall, would be the city’s tallest building, surpassing the Detroit Marriott at the Renaissance Center at 727 feet.

While talks are still in the works, Gilbert’s proposal laid out plans for 250 residential units, an underground parking garage, as well as office, retail and tech space in a connected nine-story base hub.

More green space will also make its way to Detroit’s east riverfront. Developers are proposing mixed-use space along the riverfront property as well as an abundance of parks, beaches and scenic walkways for city-goers.… Read More

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Categories: Ann Arbor Commercial Real Estate News, Commercial Real Estate News, Commercial Real Estate Trends, Detroit Commercial Real Estate, Grand Rapids Commercial Real Estate, Jones Lang LaSalle and tagged , , , , .

Midwest Real Estate News Names Three JLL Executives to Annual CRE Hall of Fame

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By: JC Pelusi, Market Leader, Managing Director, JLL

We’re excited to announce that three JLL executives have been recognized among Midwest Real Estate News’ annual Commercial Real Estate Hall of Fame recipients! Congratulations, to Neal Warling, Executive Vice President in Ann Arbor, A.J. Magner, Managing Director in Cleveland, and Dave MacDonald, Managing Director in Detroit.

All three executives are extremely talented and hold a breadth of knowledge related to national commercial real estate, as well as within their individual markets. We caught up with each executive to reflect on their time with the company and how they’ve achieved their success.

Q & A with JLL Hall of Famer: A.J. Magner 

Magner, AJ

Courtesy of JLL

Pelusi: What do you enjoy most about working in the commercial real estate (CRE) industry?

Magner: Participating as a business partner in my clients’ businesses and leading and integrating on interdisciplinary project teams. With every project, there’s always something new to learn and overcome.

Pelusi: What is the secret to your success?

Magner: Surrounding myself with and teaming with smart, hardworking people.

Pelusi: What makes your local market stand out in the CRE industry?… Read More

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Categories: Ann Arbor Commercial Real Estate News, Cleveland Commercial Real Estate, Detroit Commercial Real Estate, Jones Lang LaSalle and tagged , , , , .