Michigan Real Estate News

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Amazon Ditches Square Footage

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Amazon is subleasing at lease 10 million square feet and possibly terminating leases in New York, New Jersey, Southern California and Atlanta. The figure could be as high as 30 million square feet. This is in contrast to the the company’s acquisition of 200 million square feet during the pandemic. In the Detroit area, it’s a different story. The company currently occupies or is building at least 13 million square feet. According to sources, Amazon was more deliberate in the Detroit area, as opposed to other areas where it acquired square footage where it could find it. The company also seems to be dropping smaller spaces and not mega-centers like those in the Detroit area.

 

 

Ilitch And Ross Release Detroit Center Renderings

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Stephen Ross and the Ilitch organization have released conceptual renderings showing new retail, housing and office developments in Detroit’s sports venue district.  The projects include new construction, as well as reuse of existing buildings. The renderings show a future hotel on Henry Street, an office tower with ground-floor retail space along Woodward Avenue next to Comerica Park, a residential, retail and office development on Park Street, and office, retail and residential development along Columbia Street. Ross and Ilitch are collaborating on the University of Michigan’s planned Detroit Center for Innovation.  They expect to break ground on the project in 2023.

 

 

 

David Whitney Building Hotel Builds On And Rebrands

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The David Whitney Building will soon be renovated and rebranded. It will become an Autograph Collection hotel and expand to 160 rooms. According The Roxbury Group, the building will lose 24 of the apartments but leave 80 residences on the top seven floors. The hotel rooms will be renovated, along with the lobby bar, atrium lounge and outdoor seating. The building’s event space will become restaurant space. Renovations will being this summer. The project’s budget is undisclosed.