Friedman Real Estate, a privately held full-service commercial real estate firm, recently inked a large industrial lease for 528,340 square feet at Pinnacle Logistics Park located at 24400 Glendale Road in Redford, Michigan. Jared Friedman negotiated the deal on behalf of the Landlord with CBRE representing DTE who will use the property to warehouse equipment.
This significant industrial lease is indicative of an upward trend seen throughout Detroit’s regional metropolis during Q2 2023. According to JLL’s report , automotive and logistics users continue to be major drivers of activity as EV and R&D sectors increase their presence within the market; average asking rents have also increased 9.3% over two years’ time frame .
Development activity remains strong with over 5 million square feet currently under construction plus additional projects set for ground breaking through 2021 end .
