Michigan Real Estate News

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Birmingham Place Property Sells to Bacall Companies LLC

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Bacall Companies LLC has purchased the office and retail portion, as well as some of the parking portions,  of the Birmingham Place property in downtown Birmingham for $37 million. The purchased closed Wednesday afternoon and is the third the company has made in Birmingham’s downtown. They’ve also purchased the property at 380 N. Old Woodward Ave. and the Huntington Center office building at 220 Park St. The purchased portion is between 107,000 and 108,000 square feet with 96 percent leased. Conway MacKenzie, Sotheby’s International Realty and Brooks Wilkins Sharkey & Turco PLLC are the current key office tenants. The purchase doesn’t include the 142 condominiums on the building’s top floors.

 

Dearborn Issues Demolition Notice for Village Plaza Tower

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Village Plaza tower, a 12-story office building in Dearborn, is slated for demolition. According to Dearborn Mayor Abdullah Hammoud, the city has issued a demolition notice to the property owners after several attempts address the notices of violation. The demolition notice was issued after an August 12 city inspection. The 285,468-square-foot building has evacuated in early 2018 because of safety issues.

 

College Hotel Demands High Price

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Ann Arbor’s Graduate Hotel is located a few blocks from campus, making it a convenient place to stay. Although spring commencement at the University of Michigan is 8 months away, the hotel is  sold out for the weekend in April. They do have openings for Wolverines football games, to the tune of $3,000. Visitors to the Graduate Hotel book their rooms months, and even years, in advance. Prices for popular dates typically ring up at exorbitant prices. For example, want to head to this year’s U-M vs. Michigan State game? It’ll cost you $1,599 per night with a 2-night minimum stay. By the time taxes and fees are added, guests are facing a bill of over $3,500.