Michigan Real Estate News

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Sugar Loaf Resort Demolition Is Underway

Excavators have begun demolition of Sugar Loaf Resort in Leelanau County. The demolition should be completed by early January, but questions continue to loom. Who is financing the demolition, and what’s on the horizon for the site? The resort operated from the early 1960s until it closed in 2000 and was a premier winter destination. It had two golf courses, a 144,000-square-foot lodge and hotel, a restaurant, two pools, a 3.500-foot paved airstrip, indoor tennis, 72 townhouses, five chairlifts and a wastewater treatment plant. Ross Satterwhite is a local real estate adviser and the spokesperson for the unknown owners.

 

 

Livingston County is Commercial Building Dead Zone

More than 7.5 million square feet is under construction in the Southeast Michigan region to fulfill the need for industrial, warehouse and distribution center buildings. But in Livingston County? Not so much, although it appears to be perfect for new construction. It has low vacancy, outdated inventory and rising rents. Only one new 40,000-square-foot industrial building has been constructed within the county’s 585 square miles in the last four years. Effectively, the market is full. Available workforce and infrastructure also contribute to new industrial space not coming into the county.

Downtown Birmingham Bright Spot for Retailers

Downtown Birmingham is bustling with at least 8 retailers and 4 new food establishments that have opened, expanded or made plans to open in recent months. Retailers are rebounding in sales numbers and downtown Birmingham office space is at pre-pandemic levels of demand. According to real estate insiders, a popular retailer may be opening a new store at Maple and Old Woodward. In addition, downtown Birmingham opened its second luxury hotel. The 151-room Daxton hotel opened in April.