The momentum continues in the Detroit-area commercial real estate market. That was the main takeaway from Michigan Real Estate Journal’s 11th annual Detroit Commercial Real Estate Mid-Year Forecast held May 19 at The Community House in Birmingham, Michigan.
The top-producers in the Detroit-area CRE market attended the big event to network and hear from their peers about the solid performances turned in by the area’s industrial, retail, multifamily and healthcare sectors. Panelists also had some optimism regarding the local office sector. Yes, this sector still faces challenges, but the future for office here looks brighter.
The forecast also focused on the many development projects that are reshaping the skyline of Detroit and the core of its surrounding communities. There is still plenty of construction activity coming to downtown Detroit and its suburbs. And that provides even more hope for the CRE professionals working in this key Midwest market.
The Detroit-area multifamily market remains a strong one, with demand for apartments in the city and the suburbs continuing to rise. Speaking on the strength of this sector during the event’s Detroit Multifamily Market: Investment, Development & 2026 Outlook panel were Jack Johns, First Vice President, Institutional Properties, Multifamily, CBRE, Capital Markets; Kevin Dillon, Senior Managing Director, Investment Sales, Berkadia; Matt Walters, CEO and Founder, Walters Group; and Elizabeth Rogers, Partner, Taft, who served as the group’s moderator.
Speaking on the Detroit CRE Market Outlook: Industrial Strength, Office Repositioning & Retail Recovery panel were Adam Ferguson, Principal, Bernard Financial Group; Steven Silverman, Senior Vice President, National Investment & Brokerage Advisory, Auction Services, Friedman Real Estate; Chris D’Angelo, Principal, Signature Associates; Ryan Brittain, Vice President, Detroit, Colliers; Brendan George, Senior Vice President, CBRE; and Daniel Canvasser, Executive Managing Director, NEWMARK. Tom August, Senior Attorney with Dawda served as the event’s moderator.
The forecast concluded with the Detroit’s Next Chapter: Downtown & Suburban Development, Redevelopment & Opportunity session. Speaking on this panel were Andrew Danaher, Principal, Albert Kahn Associates, Inc.; Beth Kmetz-Armitage, Director, Commercial Development, Michigan Central; Samantha Eckhout, Managing Director – Investments, REDICO; Emily D’Agostini Kunath, Principal, D’Agostini Companies; Jared Friedman, Co-CEO, Friedman Real Estate; and Mark Bennett, Founder and Managing Director, MJBennett, the panel’s moderator.
