All Posts in Category

Massive Rite Aid closures leave landlords in the lurch Rite Aid Corp. store closing signs have replaced orange traffic barrels as Michigan’s unofficial state flower this summer. All 232 of the bankrupt Philadelphia-based drug store chain’s locations in the state are confirmed on the chopping block, some two months after word started leaking out about the…

Tough-to-sell Northville mansion, Livingston County island retreat head to auction The owner of a Wayne County mansion that has been on and off the market for a decade without a successful sale will instead try his hand at the auction block.  Castello Montebello, as the 2.2-acre property in Northville is called, was built in the…

Ownership stake in downtown Cleveland building changes hands between Detroit-area investors An ownership stake in a just-completed, 23-story building in downtown Cleveland has changed hands from one Detroit-area investor to another.  Farmington Hills-based real estate developer Jonathan Holtzman is no longer part of the ownership team of the building at 776 Euclid Ave. in Cleveland….

Recession? Most Michigan CEOs see stable economy ahead If there’s a recession coming, you wouldn’t be able to tell it from Michigan CEOs’ outlook. More top executives are optimistic about the state’s economy than a half-year ago and expect it to remain stable. Fewer are bullish on the U.S. economy compared with late last year,…