Commercial real estate is property that is used solely for business purposes and that are leased out to provide a workspace rather than a living space. Created and governed by commercial brokers and related industry professionals, CPIX has become the most highly used commercial real estate resource in Michigan for site selection by brokerages, city and county government and the MEDC (Michigan Economic Development Corporation).
The current market will include an assessment of a number of things including competing properties, time on market, price ranges, rentals, best method of sale or lease, and ways to attract enquiry away from any other property listed with competing agents.
This seems to have come to a head this summer as Boardwalk REIT (Real Estate Investment Trust) has agreed to sell their Windsor multifamily portfolio to Skyline Apartment REIT This transaction turns Skyline into the dominant Landlord in the region with close to 2000 units.
At MG Commercial, we’ve always offered intimate knowledge of the local commercial real estate market, and we can provide this service to local buyers, sellers, tenants and landlords as well as national brokers who need a qualified independent firm to act as their local representative.
Drawing on bank regulatory filings, including call reports and thrift financial reports, Foresight estimates that the total commercial real estate loan exposure of commercial banks is $1.9 trillion compared to the $1.5 trillion Federal Reserve estimate.