Michigan Real Estate News

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Lansing-Based Developer Contracts the Linda Dresner Building

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Ron Boji, head of the Lansing-based Boji Group, has put the Linda Dresner Building in Birmingham under contract for an undisclosed amount. Boji has letters of intent from two national retailers. Although he isn’t disclosing who the retailers are, one of them will occupy the first floor of the Dresner building and the other will occupy the Maplewood Building he purchased last year. Boji Group will relocate its headquarters to the second floor of the Dresner building while continuing to maintain a presence in Lansing.

Hard Rock Affiliated Hotel is Coming to Kalamazoo

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The former Gibson Mandolin-Guitar Manufacturing site is being redeveloped under the REVERB by Hard Rock brand. Plaza Corp. Realty Advisors, Inc. and Dora Hotel Co. are partnering to bring the new hotel to the site at 225 Parsons St. in Kalamazoo. With a long history of respecting historical elements during  its redevelopments and renovations, Plaza Corp. will maintain some historic parts of the 103-year-old property. The new hotel will include a gym, bar, brewery, restaurant, banquet facility, auditorium and museum. Construction and renovation are expected to be complete in fall 2023.

A $150 Million Asking Price For Detroit Parcels . . . Stunning

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Three properties on the Detroit Riverfront have been listed for a total of $150 million, 15 times the price the owner paid in 2015 and 2016 when he purchased them. Owner Michael Shaya arrived at the price based on the properties’ “potential,” stating that “The price is commensurate the scale and size that can be built on these properties, which is in the millions of square feet.” Experts are skeptical that he will get his asking price.