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CCIM Regional Outlook for Midwest - Chasing Yield

The Value-Add Play

Buyers shopping for higher returns are finding them in the Detroit metro area. “Lately, we are a magnet for out-of-town, value-add investors looking to buy underperforming assets at a fraction of replacement cost,” says Larry Emmons, CCIM, SIOR, senior managing director at Newmark Grubb Knight Frank in Southfield, Mich. Buyers are looking for class A and B multitenant, multistory buildings in prime suburban markets — namely Southfield and Troy — as well as in Detroit’s central business district.

Rebuilding Detroit after the Bankruptcy

Detroit is a natural area for a disaster preparedness and recovery hub. Set on the shore of the Detroit River, in a State open to immigration, Detroit has an existing infrastructure ready for temporary or permanent migration. Money spent on responding to and rebuilding areas prone to natural destruction would be better purposed restoring and re-purposing the Detroit region which is relatively safe from natural disasters.