City: Detroit

Crain's Detroit Business One Management, a Detroit-based real estate firm, has bought one of two foreclosure notes for La Casa Inn, a run-down hotel in southern Oakland County, Mich. The firm plans on buying the second foreclosure note by Sept. ...

Equity Inns Inc. has agreed to pay $25.9 million, or nearly $69,000/room, for a portfolio of four Midwest hotels totaling 376 rooms.The Germantown, Tenn., REIT, acquired a Hampton Inn and a SpringHill Suites in Grand Rapids, Mich. The portfolio also ...

Crain's Detroit Business Commercial real estate vacancies continue to plague landlords in downtown Detroit. Vacancy rates remain high and rental rates are flat or dropping, according to second quarter brokerage reports. Trammell Crow Co. reported that average rental rates for ...

A group consisting of physicians has lined up $21 million of construction financing for Meadowbrook Medical Center, a proposed 134,000-square foot medical office building in Novi, Mich.The property would have two floors and an ambulatory surgery center. It is currently ...

Crain's Detroit BusinessDenso International America, an automotive supplier, is planning a $36 million expansion of its headquarters in Southfield, Mich. The company expects to add 48,000 square feet to its technical center and purchase a neighboring 134,000-sf office building.

Crain's Detroit BusinessRedevelopment Restoration Consultants LLC is planning to redevelop the Eddystone Hotel, a landmark hotel property in Detroit. The company plans to transform the property into a 60-unit residential loft-style condominiums and retail shops. Restoration of the 80-year-old hotel ...

July 8, 2005 Detroit NewsOccupancy rates for metropolitan Detroit's hotel rooms rose slightly through the first five months of this year to 54.2 percent, up from 53.3 percent in May 2004, according to Smith Travel Research. Occupancy rates are expected ...

June 21, 2005 Detroit NewsPeebles Atlantic Development Corp., a Coral Gables, Fla., developer, will transform the historic Lafayette Building in downtown Detroit into a $40 million, 110-unit luxury condominium project with commercial space. Previously, the 14-story tower served as an ...

June 16, 2005 Detroit NewsFrank's Nursery & Crafts Inc., a Troy, Mich., lawn and garden retailer, won court approval to emerge from Chapter 11 bankruptcy protection as a real estate development company. The company will launch the real estate business ...