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RenCen towers purchase price revealed The new owner of a pair of Renaissance Center towers paid one of the lowest prices per square foot for prime downtown office buildings in years. The buyer, Farmington Hills-based Friedman Real Estate, dropped $15 million just for the real estate itself in the multi-property purchase that closed in December. Included in…
Look inside the luxury apartments renting for $2,300 per month at the Joe Louis Arena site As the developers of Detroit’s newest high-end apartment building prepare to welcome residents as soon as this week, the high cost of the units appears to be serving as little deterrent for tenants. With 496 luxury units in a…
Redico takes on The Platform’s portfolio of Detroit buildings The Platform LLC is folding, and its operations will be absorbed by another prominent metro Detroit real estate firm. The Detroit-based firm founded in 2016 by real estate developer Peter Cummings is merging with Southfield-based landlord and developer Redico LLC, handing over management of its entire office, multifamily,…
Carhartt headquarters building in Dearborn sold to Chicago buyer A Chicago-based firm has purchased the Carhartt Inc. headquarters in Dearborn. Syndicated Equities did not disclose in a news release how much it paid for the nearly 58,000-square-foot building at 5750 Mercury Drive near Ford Road and the Southfield Freeway/M-39. But CoStar Group Inc., a Washington,…
Owning a home is a keystone of wealth… both financial affluence and emotional security.