Commercial – Michigan Real Estate News

Justice Department Sends Antitrust Signals

July 12, 2021/in National /by Tracy Willis

The Justice Department backed out of a proposed settlement with the National Association of Realtors in regards to real-estate agents’ high commissions. Although in the past, the government has brought antitrust cases and then decided to dismiss them, they have never agreed to a proposed settlement and then backed out. There’s speculation that this is a signal from Washington that antitrust enforcers are ready to address the exorbitant brokerage costs that American homeowners pay, often 2 to 3 times higher than the rest of the developed world.

July 12, 2021/in Detroit /by Tracy Willis

Although public records don’t yet reflect a sale, real estate investment firm, Reign Capital LLC, has bought the AT&T Inc.’s 20-story building. The property was purchased in late May for $15.5 million through an affiliate, Reign CO1 Propco LLC. The company has also recently purchased AT&T properties in Milwaukee, Pittsburgh, and Winston-Salem. An AT&T spokesperson has stated that the change in building ownership will not affect employees or operations.

Much of Michigan’s marijuana industry is outside mainstream retail outlets. The Michigan Cannabis Manufacturers Association commissioned a study says that millions in taxes and fees could be captured from illicit marijuana markets. While there is no current legislation concerning home cultivation, the information from the study will be used to inform legislators in Lansing. It’s speculated that the MCMA may seek to change the state law passed in 2018 in order to upend the home cultivation rules. The interest is in bulking up the legal retail market and tax revenue.