Leasing Activity
CBD
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Quicken Loans announced plans to relocate its corporate headquarters from Livonia, Michigan to a site to be selected in Detroit’s Central Business District. The move will include up to 4,000 jobs and a package of both state and local incentives that could total up to $200 million over a 20 year period.
Suburban
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Market Strategies Inc. announced that they will occupy a 60,000 s.f. building to be constructed in Livonia’s College Park business campus. The new three-story building will serve as the company’s headquarters and will replace the company’s current location at 20255 Victor Parkway in Livonia. The build-to-suit will be managed by Etkin Equities L.L.C., a Southfield, Michigan based company.
Building Sales
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The State of Michigan closed on the sale of the 414-acre former Northville Psychiatric Hospital in Northville Township. REIS-Northville L.L.C acquired the vacant site for $31.5 million and is planning a mixed-used development that will include retail space, medical office space, and residential units.
Construction
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The Detroit based College for Creative Studies and General Motors announced The Argonaut Revitalization Project of the historic Argonaut Building in Detroit. The mixed use educational facility/office complex will total approximately 700,000 s.f. and parking for approximately 1,000 cars. The building will be used by the College for Creative Studies as a graduate school with a residence hall and a Grade 6 -12 creative arts Charter school.
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