In the News

Kyle Hauberg Quoted in Crain’s Detroit Business

Says Pending Sale of Two Southeast Michigan Malls Reflects Uptick in Area Property Values, Jobs Data

June 26, 2014

Kyle R. Hauberg, Bloomfield Hills-based Director of the Firm’s Real Estate and Environmental Department, is quoted in a Crain’s Detroit Business article—“Taubman shops for cash: Developer raises capital; buyer seeks Mich. Malls”—that appeared in the June 22, 2014 edition of this magazine.

In the article, Hauberg observes that the pending sale of two large shopping malls owned by Taubman, a leading Michigan-based developer of regional and super-regional malls across the nation, signals the growing attractiveness of commercial properties—located not just in Michigan but throughout the Midwest—to Real Estate Investment Trusts (REITs) and other financial buyers.

Hauberg cites several reasons that help explain buyers’ renewed interest in the commercial real estate market, among them a recent resurgence in property values and improving jobs data.

To read this article in its entirety, click here.