CBRE|Martin reviews market and looks ahead
Tuesday, June 7, 2016
Posted by: Eric Dimoff
CBRE|Martin’s News & Views newsletter highlights significant transactions
CBRE|Martin is pleased to present its collaborative newsletter News & Views, which highlights some of the significant transactions from the past year and available listings from both CBRE|Martin and CBRE|Grand Rapids.
Highlights from News & Views include:
- Commercial real estate insights and 2016 forecasts from Van W. Martin, Chairman and CEO of CBRE|Martin and CBRE|Grand Rapids
- Significant lease and purchase transactions in the office, retail and industrial sectors such as the Spartan Sports Network office lease at Corporate Place in East Lansing and the sale of Frank’s Press Box East to Ukai Restaurant
- Available listings in the office, retail and industrial sectors such as office listings for Gillespie Group’s Stadium District and franchise location search for Biggby Coffee
The growing economy, new job creation, low interest rates and increased consumer spending were factors driving commercial sales and leasing across Michigan in 2015. Real estate owners saw improved activity in all sectors of commercial real estate. Significant industrial and manufacturing growth in Detroit, Lansing and Grand Rapids were the hot topic of conversation in 2015. Vacancies across the state were at record lows, pushing many occupiers into build to suit projects.
“During 2016, we will keep our eyes on key economic fundamentals such as unemployment, job growth and consumer confidence. Should they remain strong, our healthy real estate market should as well,” said Tricia Foster, CPM, ACoM, senior managing director and chief operating officer for CBRE|Martin.