Michigan Real Estate News

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Michigan’s Last Kmart Store Has New Owner

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The site of Michigan’s last Kmart store near Battle Creek has a new owner. B. Riley Real Estate bought the former Kmart for an undisclosed amount. Prior to the store’s closing, it was a strong retail performer. That, coupled with the future growth of Marshall’s market and the planned Megasite development initiative attracted the buyer. The 86,479 square-foot building is in the Marshall Plaza shopping center and less than three miles away from Marshall Megasite, an industrial development. The developer plans to bring a mix of national retail tenants to the site.

Bedrock CEO Shares Ways to Attract Innovative Talent to Detroit

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According to Bedrock CEO, Kofi Bonner, Bedrock has an opportunity to grow a globally significant innovation district in the heart of Detroit. The Detroit area has the land, talent and necessary capital to sustain growth. Bonner cites advantages in next generation technologies that impact mobility, defense, clean energy, cybersecurity, fin tech, agricultural science and life science sectors. Over the last ten years, Rocket Companies and other finance and technology companies distributed throughout the Bedrock portfolio have completed the first phase of a “business-led” downtown district. The next growth phase will emphasize attracting special units of higher education, advanced global research institutions and technology labs, as well as contain programming to build close relations between scientists, companies and startups.

 

 

 

Rochester Community Schools To sell Historical Administration Building

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Rochester Community Schools is selling a 4.43-acre parcel of land and a 133-year old historical building. The RCS Administration Building is a three-story structure that contains 89,716 square feet of gross building area. Purchase proposals must be submitted in writing by 5 p.m. on March 28. The original building was built in 1889. The last renovation of the building took place in 1988. A community committee studied options for the future of the building and its artifacts. The committee determined the process a prospective buyer will follow to bid on the property, and it’s also focused on identifying artifacts for preservation.