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to climb, so the commercial market is
moving right along with that"
- Auto sales for 2012 are estimated at
14.3 million, up from 12.8 million last
year.
Added Newman: "We've been in
business only a relatively short time,
but we're getting more listings all the
time, and we're expanding our prop-
erty management business."

Handling 150 Clients
Keystone now represents about 150
retailers and shopping centers in
Southeastern Michigan.
"Our focus continues to be on ten-
ant representation, investment sales,
leasing and property management of
a diverse portfolio of shopping centers
ranging from 10,000 to 500,000 square
feet',' said Newman.
Among properties being handled
by Keystone are the Simsbury
Center (Busch's Fresh Food Market)
in Farmington Hills, with 100,000
square feet; the Maple Plaza in Walled
Lake (Say A Lot supermarket), with
100,000 square feet; the Bloomfield
Avenue Shoppes across Haggerty Road
from the Meijer store, with 57,000
square feet; various buildings in the
Downriver area and in Downtown
Detroit, and several stores along the
Woodward corridor from Downtown
to the New Center area, which
Newman characterizes as "a rocking
area now."
"We also handle about 20 Five Guys
hamburger eateries in Southeastern
Michigan:' said Newman, "and we're
looking forward to working with some
new chains coming into the local
market, such as Firehouse submarine
sandwiches and a Jewish-owned com-
pany called Menchie's Frozen Yogurt."
A sampling of some other com-
mercial real estate firms in the metro
area confirms Keystone's cautious
optimism.

Office Rentals Bustling

"The state of the Detroit area corn-
mercial real estate market seems to
have stabilized; it's definitely bet-
ter," said David Friedman of West
Bloomfield, who is president and CEO
of the Friedman Real Estate Group
Inc. in Farmington Hills, which man-
ages more than 12 million square feet
of commercial property around the
country.
"Rentals and occupancies of stores
and warehouses are starting to climb
again, and there's a flurry of activity
in the office rental market. When the
auto industry improves, the real estate
market improves right along with it."
"We've had a burst of activity in the
Downtown real estate market:' noted
Jim Ketai of Franklin, who is manag-
ing partner of Bedrock Management
Services, the main real estate arm of
Dan Gilbert's "family of businesses."
Gilbert, of Franklin, is founder and
chairman of Detroit-based Quicken
Loans and has acquired 10 Downtown
buildings, now being renovated.
"There has been a vast tenant inter-
est in the office space and commercial
space in these buildings by compa-
nies, restaurateurs, grocers and oth-
ers," said Ketai, "and we're leasing at a
steady clip. We've definitely stirred up
a lot of interest, but changes just don't
happen overnight."
Karen Sosnick Schoenberg of
Birmingham, principal of Redico, a
real estate development and invest-
ment company in Southfield founded
in the 1960s by her father, Robert
Sosnick, said, "The commercial leas-
ing business started to pick up in late
2011, improved in the first quarter of
this year, and is looking better all the
time:'
She adds: "The main thing is that
more leasing deals are getting done,
and we hope this signals a turn-
around in the commercial real estate
market." ❑

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June 7 0 2 012

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