Michigan Real Estate News

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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 It has low vacancy, outdated inventory and rising rents.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.

 

 

 

Michigan Township Vetoes Solar Farms

Invenergy, a multinational energy company, has offered Washtenaw County farmers $1,100 a year for each acre of land utilized for solar panels. Landowners agreed to the deal, but the township didn’t. Some residents fear electromagnetic radiation. Township officials are disenchanted with the company’s sign up efforts before consulting local government. They’re also skeptical about Invenergy’s promises of boosted tax revenue. Others worry about the aesthetics of the panels and their infringement on hunting land. Bridgewater landowners feel that the deal was turned down based on assumptions and misinformation.