Campus Martius Economic Impact Case Study
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Mclaren to Appeal State's Rejection of Bed Transfer
CD_20120813page1BASIC.qxp 8/10/2012 5:29 PM Page 1 ® www.crainsdetroit.com Vol. 28, No. 33 AUGUST 13 – 19, 2012 $2 a copy; $59 a year ©Entire contents copyright 2012 by Crain Communications Inc. All rights reserved Page 3 Marijuana faces climate McLaren to appeal state’s change – the political kind CRAIN’S MICHIGAN BUSINESS rejection of bed transfer Tool and die BY JAY GREENE to downsize its Pontiac hospital to 108 med- shops come CRAIN’S DETROIT BUSINESS ical-surgical beds, plus 27 psychiatric beds with emergency care and surgical services. back to life, Flint-based McLaren Health Care says it But on June 25, the Michigan Department of Page 8 will appeal the state’s denial of its certifi- Community Health denied McLaren’s applica- cate-of-need application to transfer 200 beds tion, saying it failed to comply with the “re- from its Pontiac hospital for a new hospital placement zone” requirement, which allows World Watch: McLaren wants to build in Oakland Coun- bed transfers only within two miles of the Redico LLC refinanced One Kennedy ty’s Independence Township. existing hospital. The proposed hospital is Square in downtown Detroit for Spotlight on In February, McLaren filed a CON to re- 7.6 miles from Pontiac, McLaren said. $27.3 million or $112 per square foot. Michigan biz locate 200 of the 335 hospital beds at In a statement to Crain’s last week, Incarnati McLaren Oakland to the proposed hospital in in Mexico, Page 15 Independence Township. McLaren planned See McLaren, Page 26 Sky-high refi: Health Care Extra Tackling One Kennedy hospital More the merrier at cruise readmissions, deal milestone Page 16 Companies open the party doors to employees, public Numbers back up Crain’s List BY SHERRI WELCH increasingly opening their tional event for Friday night Largest outstate private AND RYAN KELLY events to employees and the at Pasquale’s in Royal Oak. -
Mexican Mogul Tied to Marquette Deal
20150406-NEWS--0001-NAT-CCI-CD_-- 4/3/2015 6:17 PM Page 1 CRAIN’SReaders first for 30 Years DETROIT BUSINESS April 6-12,2015 OPENING DAY Will The News’ Cuts threaten Big money not fate be mental health always best decided soon? authority PAGE 3 PAGE 6 PAGE 10 Mexican mogul tied to Marquette deal Downtown building sale signal of more to come? [COURTESY OF SAFE ROADS YES] The pro-Proposition 1 ad campaign emphasizes safety concerns about poorly main- By Kirk Pinho ourian, managing director of the track record, that he could build. tained roads.Would more facts build more support? [email protected] Southfield office of Colliers Interna- There is need for lots of apartments An entity with ties to Carlos Slim tional Inc. “If they show some suc- and a need for office space.” Helú, the Mexican business mogul cess with it, the floodgates could See MARQUETTE, Page 28 with a net worth Forbes magazine open. With that much ability, what Roads tax ad push pegs as $77.1 billion, has pur- might be a small investment for chased a downtown Detroit office him could be huge in the city of building. Detroit. A fraction of his net worth Real estate brokers are watching could be a monster investment.” hitting potholes the deal closely and speculating Steve Morris, principal of Farm- that the purchase marks the begin- ington Hills-based Axis Advisors ning of an effort by Helú to scoop LLC, said the purchase might be Prop 1 message concern: Emotion over detail up other Detroit properties. -
Living and Investing in The
DETROIT BUSINESS MAIN 08-11-08 B 49 CDB 8/6/2008 12:58 PM Page 1 www.crainsdetroit.com Vol. 24, No. 32a Fall 2008 www.crainsdetroit.com Living and investing in the FillingD in the gaps ■ Catalysts for ■ Selling ■ New Detroit: mass neighborhood restaurants in transit, urban buying power Midtown, farming Corktown CDBmagazine.qxp 7/16/2008 11:08 AM Page 1 Together, we can change the future. All it takes is working harder — and smarter. Bank of America is proud to support Crain’s House Party for reaching out and making this community a better place for all of us. Visit us at www.bankofamerica.com. Bank of America, N.A. Member FDIC. Equal Housing Lender ~ © 2008 Bank of America Corporation. All rights reserved. SPN-71 DETROIT BUSINESS MAIN 08-11-08 B 1 CDB 8/6/2008 5:44 PM Page 1 Living and Investing intheD Vol. 24, No. 32a ON THE COVER: Table of Contents Counterclockwise from top left: Book Cadillac Mary Kramer building; Justin Mooter, Optimism amid turmoil. Detroit is making progress, Royal Container Inc. but it needs to fill its political leadership gap. Page 2. general manager and downtown renter; RiverWalk; Cindy The Corridors Warner, managing A development report from Woodward, Michigan and Gratiot partner of Northpointe avenues, and Detroit’s Page 8 Food Ventures, parent riverfront: new lofts, company of Zaccaro’s restaurants and collaborative Market. projects. Page 4. ABOUT THIS The Catalysts ISSUE: Tipping-point Detroit initiatives: urban farming, the Living and Investing Dequindre Cut recreation in the D was edited path, new retail and mass by Assistant transit. -
Section Four
SECTION FOUR SECTION FOUR ECONOMY AND INVESTMENT ECONOMY & INVESTMENT EMPLOYMENT EMPLOYMENT, EMPLOYMENT SECTORS & GROWTH 76 WAGES 77 COMMERCIAL SPACE 78 REAL ESTATE DEVELOPMENT 82 Section Four | Economy and Investment 75 EMPLOYMENT, EMPLOYMENT SECTORS & GROWTH (4.1) Since 2010, Downtown Detroit has added over 16,000 employees including over 12,000 Quicken Loans affiliated team members, 3,400 Blue Cross Blue Shield employees, and 600 Campbell Ewald employees. (4.2) Total Employment in Greater Downtown, 2011 >1% 2% AREA EMPLOYEE COUNT 50% CORKTOWN 2,329 EMPLOYEES DOWNTOWN 66,489 EMPLOYEES EASTERN MARKET 3,407 EMPLOYEES LAFAYETTE PARK 413 EMPLOYEES 44% MIDTOWN 59,557 EMPLOYEES RIVERTOWN 1, 664 EMPLOYEES >1% 3% WOODBRIDGE 542 EMPLOYEES (4.3) Employment by Sector, 2011 SECTOR EMPLOYEE COUNT 37% 11% PRIVATE EDUCATION & HEALTHCARE 50,875 EMPLOYEES 5% GOVERNMENT 21,596 EMPLOYEES 11% PROFESSIONAL, SCIENTIFIC, TECH & MGMT 27,862 EMPLOYEES 16% LEISURE & HOSPITALITY 15,093 EMPLOYEES 20% CONSTRUCTION, MANUFACTURE & TRANSPORT 6,493 EMPLOYEES OTHER SECTORS 14,482 EMPLOYEES 76 7.2 SQ MI | A Report on Greater Downtown Detroit | Second Edition WAGES (4.4 ) Annual Wages at Greater Downtown Jobs, 2002-2011 2002 2011 WAGE 2011 COUNT $0–$15K 11% 16% – 05% 0–$15K 15,610 $15K–40K 39,501 $40K+ 81,290 $15K–$40K – 09% GAIN 38% 29% LOSS 20% $40K+ 46% + 14% 60% Section Four | Economy and Investment COMMERCIAL SPACE (4.5) Commercial Real Estate in Greater Downtown, All Properties, 2014 NET RENTABLE LEASE RATE VACANCY RATE $20.44 Net Rentable: 26.1M SQ.FT. DOWNTOWN 26,137,026 16% Lease Rate: $20.44 Vacancy Rate: 16% 7,931,165 $16.01 11% Net Rentable: 7.9M SQ.FT. -
AROUND the D
AROUND the D What is there to do in Detroit, you ask? Come to Detroit and see who Detroiters really are. We are more than the news media would have you believe. Detroit is cosmopolitan, industrious and cool, and our people walk to the beat of a vibe of re-birth and opportunity. We are a city of entrepreneurs, artists, dream makers and visionaries, and our events, locations, bars and restaurants all exemplify the spirit of the D. In the D, our museums showcase artistic genius and rich African-American history. Our skyline shows our industry and our “hangouts” blend high style with laid-back cool. Home to three professional sports teams, upscale casinos, theaters, a thriving cultural district and live entertainment venues all make up the heart of Detroit. Experience Detroit’s international border and a walkable riverfront that are symbols of this city’s cosmopolitan place in the world. Don’t miss the opportunity to come and experience the real Detroit. We are Detroit and we look forward to sharing it with you. 10 COOL THINGS TO DO IN DETROIT DIA – DETROIT INSTITUTE OF ART – A NATIONALLY RENOWNED EASTERN MARKET MUSEUM A great place to go on Saturday mornings, Detroit’s Eastern Start your Detroit tour at the DIA, the city’s crown jewel. The Market thrives with people buying fresh apples, blueberries museum’s Beaux Arts building is massive, with more than 100 and roses from farmers who have driven here from across galleries, but if you choose carefully among the collections, you the Midwest. Many Detroiters say they buy their entire weeks’ can be in and out in two hours. -
DETROIT BUSINESS MAIN 01-28-08 a 26 CDB.Qxd
DETROIT BUSINESS MAIN 01-28-08 A 26 CDB 1/24/2008 5:06 PM Page 1 Page 26 CRAIN’S DETROIT BUSINESS January 28, 2008 FOCUS:BIG DEALS 2007 CRAIN'S LIST: OFFICE LEASES Ranked by square feet Rank Building Asking rate Owner Tenant Broker Square feet 1. 585 South Blvd., Pontiac $9.00 B General Motors Corp. EDS Corp. CB Richard Ellis, Jones Lang LaSalle 568,503 3000 University Drive, Auburn Hills $9.00 Metcalf Family Living Trust Delphi Corp. Grubb & Ellis, L. Mason Capitani, 435,000 2. Binswanger 3. Arboretum Office Park, Farmington Hills $18.95 Burton-Katzman Development Co. Trinity Health Corp. Plante & Moran Cresa 223,588 4. 20255 Victor Parkway, Livonia $24.00 Kojaian Management Corp. Quicken Loans Inc. Friedman Real Estate Group 193,434 Farmington Hills Officenter II, Farmington Hills $24.50 Kojaian Management Corp. Daimler Mercedes-Benz Financial UGL Equis 153,500 5. Services 6. 777 E. Eisenhower, Ann Arbor $25.00 Transwestern Investment Co. Medstat Cushman & Wakefield 143,523 7. Earhart Corporate Center, Ann Arbor $19.50 Kojaian Management Corp. Con-way Freight Bluestone Realty Group 132,247 8. Columbus Corporate Office Centre, Novi $20.50 Northern Equities Group Henry Ford Health System NAI Farbman 130,767 9. 14555 and 14661 Rotunda Court, Rotunda $9.75 Ford Land Severstal N.A. None 122,968 10. Haggerty Corridor Corporate Park, Novi $18.25 Northern Equities Group Ryder System Inc. CB Richard Ellis 120,000 11. 211 W. Fort St., Detroit $20.00 B Minskoff family, New York U.S. States Attorney Klugman Commercial Properties L.L.C. -
A Report on Greater Downtown Detroit 2Nd Edition
7.2 A Report on Greater Downtown Detroit SQ MI 2nd Edition CONTRIBUTORS & CONTENTS Advisory Team Keegan Mahoney, Hudson-Webber Foundation Elise Fields, Midtown Detroit Inc. James Fidler, Downtown Detroit Partnership Spencer Olinek, Detroit Economic Growth Corporation Jeanette Pierce, Detroit Experience Factory Amber Gladney, Invest Detroit Contributors Regina Bell, Digerati Jela Ellefson, Eastern Market Corporation Phil Rivera, Detroit Riverfront Conservancy Data Consultant Jeff Bross, Data Driven Detroit Design Megan Deal, Tomorrow Today Photography Andy Kopietz, Good Done Daily Production Management James Fidler & Joseph Gruber, City Form Detroit 2 7.2 SQ MI | A Report on Greater Downtown Detroit | Second Edition 04 Introduction 06 Section One | Overview 08–09 Greater Downtown in Context 10–11 Greater Downtown by Neighborhood 12–25 Downtown, Midtown, Woodbridge, Eastern Market, Lafayette Park, Rivertown, Corktown 26 Section Two | People Demographics 28 Population & Household Size 29–30 Density 31 Age 32–33 Income 34 Race & Ethnicity 35 Foreign-Born Education 36 Young & College-Educated 37 Residence of Young Professionals 39 Families 40 Programs for Young Professionals 41 Anchor Academic Institutions Visitors 42–43 Visitors & Venues 45 Hotels & Occupancy 46 Section Three | Place Vibrancy 48–63 Amenities & Necessities 64–65 Pedestrians & Bicycles Housing 66–69 Units & Occupancy 70–71 Rents 72 Incentives 74 Section Four | Economy & Investment Employment 76 Employment, Employment Sectors & Growth 77 Wages 78–80 Commercial Space 82–91 Real Estate Development 92 Note on Data 94 Sources, Notes & Definitions Contributors & Contents 3 INTRODUCTION 7.2 square miles. That is Greater Downtown Detroit. A slice of Detroit’s 139-square mile geography. A 7.2 square mile collection of neighborhoods: Downtown, Midtown, Woodbridge, Eastern Market, Lafayette Park, Rivertown, and Corktown—and so much more. -
Hannah-Neumann/Smithns Table of Contents
Hannah-Neumann/SmithNS Table of Contents 1 Firm Profile 2 Representative Experience NS Firm Profile 1 Our strategic partnership commits a comprehensive, Detroit-based design team to Hannah-XX Neumann/Smith serve the downtown community HANNAH-NEUMANN/SMITH Hannah & Associates has been working with 1500 Woodward Hannah-Neumann/Smith (HNS) is a strategic Neumann/Smith for over 15 years and it is only Suite 300 Detroit, MI 48226 partnership of Hannah & Associates, Inc. (Hannah) natural and fitting that our two firms have formally 313.782.4800 and Neumann/Smith Architecture (Neumann/Smith). come together during Detroit's comeback. We're The limited liability company (LLC) formalizes the excited to be part of the downtown 'buzz' and know it Beverly Hannah Jones, AIA 615.598.1503 cell long-standing business association between our two will spark the imagination of our design professionals [email protected] firms and key partners to create a Detroit-based, and the clients who participate in the process with woman-owned, Minority Business Enterprise us. J. Michael Kirk, AIA offering comprehensive architecture and interior LEED AP BD+C 313.610.8831 cell design services. With new offices in the historic We are jointly and independently committed [email protected] Wright-Kay Building, Hannah-Neumann/Smith to providing exceptional design services in the can better serve current and future clients in the community and look forward to doing great things community and play a prominent role in the City's together in the years to come. Establishing a revitalization. collaborative studio space in an historic downtown building was important to show we're here for the long run and are making a financial as well as personal investment in the future of Detroit. -
Associations in Michigan
ASSOCIATIONS IN MICHIGAN Association Address / Phone 40 & 8 Voiture Locale 1002 18712 Quarry Road Riverview 48192 (313) 281-4711 Accounting Aid Society One Kennedy Square Cynthia Tanner, President 719 Griswold, Suite 2026 Detroit 48226-3340 (313) 961-1840 ACEC/Michigan 1407 South Harrison Road Steve Wagner East Lansing 48823 (517) 332-2066 Ada Historical Society P.O. Box 741 Marian Bolhuis, Secretary Ada 49301 (616) 676-2426 Adcraft Club of Detroit 1249 Washington Boulevard Robert Guerrini Suite 2630, Detroit 48226 (313) 962-7225 Adoption Identity Movement P.O. Box 9265 Peg Richer of Grand Rapids Grand Rapids 49509 (616) 531-1380 Agoraphobics in Motion 1719 Crooks Mary Ann Gogoleski Royal Oak 48067 (248) 547-0400 AIA Michigan 553 East Jefferson Rae Dumke, Executive Director Detroit 48226-4324 (313) 965-4100 Air Conditioning Contractors of 5025 West Saginaw, Suite 7 Lynn L. Briggs, America—Michigan Chapter Lansing 48917 Executive Director (517) 323-2824 Albion Historical Society 509 South Superior Street Mary Deardurff Albion 49224 (517) 629-5100 Alcohol Research Information 1106 East Oakland Avenue Robert Hammond Service Lansing 48906 (517) 485-9900 Alcona Historical Society P.O. Box 174 Don Sawyer, President Harrisville 48740 (517) 724-5056 All American Judges Association 1627 Lay Boulevard Col. Granville B. Cutler of Michigan Kalamazoo 49001 (616) 343-2172 Allegan County Historical Society and 113 Walnut Street Marguerite Miller Allegan County Old Jail Museum Allegan 49010 (616) 673-4853 Alliance for Health 146 Monroe Center NW, Suite 704 Lodewyk P. Zwarensteyn, Grand Rapids 49503-2816 President (616) 459-1323 Alliance for the Mentally Ill of 15920 West Twelve Mile Road Dorothy McQueen, Michigan—Oakland County Suite 203, Southfield 48076-3044 Information and Referrals (248) 557-6440 Alliance for the Mentally Ill of 15920 West Twelve Mile Road Southeast Michigan Suite 207, Southfield 48076 (248) 552-9485 Alpena Area Chamber of Commerce P.O. -
7-ELEVEN 689 E 14 Mile Rd CLAWSON, MI 48017 TABLE of CONTENTS
CLAWSON | MI ™ OFFERING MEMORANDUM 7-ELEVEN 689 E 14 Mile Rd CLAWSON, MI 48017 TABLE OF CONTENTS 03 EXECUTIVE OVERVIEW 04 FINANCIAL OVERVIEW 05 PROPERTY OVERVIEW 08 AREA OVERVIEW LISTED BY JOSH BISHOP CHAD KURZ CALVIN SHORT VP & DIRECTOR svp & national director svp & senior director LIC # 01911198 (CA) LIC # 01927216 (CA) DIRECT (214) 692-2289 MOBILE (315) 730-6228 ARON CLINE BROKER OF RECORD [email protected] svp & senior director kyle matthews LIC # 6505399495 (mi) LIC # 688810 (TX) LIC # 01904371 (CA) | 2 ExecutiveFort Myers Overview | FL Investment Highlights » Clawson named #8 of the 50 safest cities in Michigan » NNN Lease with Rent Growth - an 8% Increase in 2020 provides a great hedge against inflation » Investment Grade S&P Rated “AA-” - Corporate Guarantee » High-Quality Brick Construction 7-Eleven Built to Suit » Signalized Corner - 40,000 VPD » 3-Mile Population exceeds 105,000 » 1-Mile Average Household Income - $77,000 » Daily Commute Route - In close proximity to William Beaumont Hospital that has over 7,000 employees 3 | FINANCIALFort Myers Overview | FL Annualized Operating Data Monthly Rent Annual Rent RPSF Cap Rate 03/30/2014 - 03/31/2019 $6,667 $80,004.00 $26.58 5.13% 04/1/2019 - 06/1/2024 $7,200.00 $86,400.00 $28.70 5.54% Option 1 $7,776.00 $93,312.00 $31.00 5.98% Option 2 $8,398.08 $100,776.96 $33.48 6.46% Tenant Summary Investment Summary Tenant Trade Name 7-Eleven Type of Ownership Fee Simple » LIST PRICE $1,560,000 Lease Guarantor Corporate Guarantee Lease Type NNN » NOI (YEAR 1) $80,004 Roof and Structure -
DETROIT BUSINESS MAIN 03-27-06 a 1 CDB 3/24/2006 6:20 PM Page 1
DETROIT BUSINESS MAIN 03-27-06 A 1 CDB 3/24/2006 6:20 PM Page 1 ® http://www.crainsdetroit.com Vol. 22, No. 13 MARCH 27 – APRIL 2, 2006 $1.50 a copy; $59 a year ©Entire contents copyright 2006 by Crain Communications Inc. All rights reserved THIS JUST IN Forecast: State tourism Parking choices should be better this year Michigan tourism should improve slightly in 2006, according to an indus- try forecast scheduled to be released Tuesday. The annual outlook by multiply downtown Michigan State University’s Travel, Tourism and Recreation Resource Center predicts Lots of spots may mean falling prices business and leisure travel will rise a combined 1 per- BY JENNETTE SMITH cent to 2 percent in 2006, AND ROBERT ANKENY compared with a decline in REBECCA COOK Darrin Eaton (rear) and David Morris CRAIN’S DETROIT BUSINESS 2005, said Don Holecek, the have raised $10 million in capital for center’s director. investments later this year. Park at Miller Parking Co.’s Tourism spending, which Renaissance Center garage and rose 4 percent in 2005, it costs $15 for the day. should rise by 4 percent to 5 Park a few blocks north and percent in 2006, he said. VC company it could cost more than $20 in a Holecek said many fac- garage. Find a tors play into the industry HOW MUCH? spot in a city- growth, including the fact owned lot and that there is “a continuing to target Parking rates, it costs $5. trend towards people want- Page 25. Prices for ing to travel, and giving daytime park- that a priority in their ing in Detroit vary wildly be- household spending alloca- minority- cause of proximity to key build- tion.” ings. -
Duggan: Help City Think Lean
20140303-NEWS--0001-NAT-CCI-CD_-- 2/28/2014 7:12 PM Page 1 ® www.crainsdetroit.com Vol. 30, No. 9 MARCH 3 – 9, 2014 $2 a copy; $59 a year ©Entire contents copyright 2014 by Crain Communications Inc. All rights reserved Page 3 Bhargava funds Dynamic Duggan: Help city pricing for company to tickets has its ups and downs invest in water, In Macomb, think lean energy deals First State Bank survives BY TOM HENDERSON Mayor hopes to tap biz expertise CRAIN’S DETROIT BUSINESS the fall Manoj Bhargava is at it again. The billionaire behind 5-Hour to change how government is run Energy garnered headlines in May 2011 BY AMY HAIMERL when Crain’s CRAIN’S DETROIT BUSINESS revealed he ayor Mike Duggan needs was the mys- some help. tery investor who put in LARRY PEPLIN M As Crain’s Newsmaker $100 million of the Year, he spoke to a of his own Gluten-free bakeries rise sold-out crowd of nearly 800 business money to to meet the demand executives last week and asked for their launch Farm- assistance. Specifically, he said he needs leaders ington Hills- Bhargava based Stage 2 who are willing to come in and teach Detroit city Innovations LLC, a private equity This Just In employees lean principles. firm established, according to “If your company has as one of its core skills the its website, “to accelerate the TechTown exec named to ability to tear apart a core process and measure the large-scale commercialization of lead new Invest Michigan outcome, we need your help,” he pleaded.