The Mastermind Behind Detroit’s Commercial Real Estate Power Plays 🌟

Hello, Commercial Real Estate Pros! 🏢

This week, we’re pulling back the curtain on real estate stories that inspire and challenge the status quo. From Sheila Fogarty’s unstoppable career to the fight for Brooklyn’s creative soul and Arizona’s jaw-dropping commercial boom, these tales redefine what’s possible in real estate.

Ready to explore? Let’s go!

📰 Upcoming in this issue

• The Unstoppable Sheila Fogarty: A Real Estate Legacy 🏆

• Can Commercial Real Estate Keep Brooklyn’s Creative Spark Alive? 🏢 

• Commercial Real Estate Boom: 50 Game-Changing Projects to Watch 🏗️

The Unstoppable Sheila Fogarty: A Real Estate Legacy 🏆 read the full 645-word article here

Article published: November 26, 2024

Sheila Fogarty, senior vice president at NAI Farbman, has cemented her place in the Commercial Real Estate Hall of Fame for good reason.

With over 35 years of experience, Sheila isn’t just known for her hustle—though, according to her peers, “no one will outwork her.” She’s built a career on deep market expertise, relentless client focus, and a knack for negotiating deals that make everyone feel like a winner.

She’s tackled major transactions, including a 54,000-square-foot deal for AutoLiv in Auburn Hills, Michigan. And post-pandemic? Sheila has pivoted, using sharp listening skills to navigate how shifting office needs shape the market.

What’s clear? Sheila’s success isn’t luck—it’s trust, adaptability, and an unwavering commitment to professionalism.

Key Takeaways:

• 💼 Hard work defines her career: Sheila’s 35+ years in real estate prove hustle and preparation are unbeatable in securing long-term client loyalty.

• 📚 Local expertise wins: Sheila’s mastery of Detroit’s market gives her clients insider advantages, from reduced costs to favorable lease terms.

• 🤝 Negotiating genius: Sheila consistently creates win-win solutions, even for the most challenging deals, earning a sterling reputation among peers.

• 🎯 Adapting post-pandemic: Sheila thrives in uncertainty, rethinking office leasing strategies by listening and tailoring solutions to new client expectations.

Can Commercial Real Estate Keep Brooklyn’s Creative Spark Alive? 🏢 read the full 1,274-word article here

Article published: November 25, 2024

Brooklyn’s Dumbo neighborhood once thrived on a delicate balance: artists giving it vibrancy and landlords keeping rents low to foster creativity. But that balance is crumbling, and the culprit is commercial real estate’s downward spiral.

Two Trees Management, which pioneered artist subsidies in Dumbo, is struggling. The same market that allowed it to offer $1-per-square-foot rents to artists like Sharon Butler has shifted dramatically. Office vacancies are piling up, start-ups are fleeing, and the building’s financial realities—like a $108M loan due in 2028—are forcing tough choices.

Rents for artists have doubled or tripled, and Dumbo’s unique creative ecosystem is at risk of being replaced by cookie-cutter commercial tenants. With office demand moving to hotspots like Hudson Yards and the Flatiron District, Dumbo’s commercial lifeline is wearing thin. Can landlords and the creative community find a way forward?

Key Takeaways:

• 🏗️ Office vacancies are rising: Dumbo buildings like 20 Jay Street, once anchored by tech start-ups, are now struggling to fill empty office spaces.

• 💸 Artists caught in the fallout: Subsidized studio spaces are seeing rent hikes, with some artists forced to pay triple or move out entirely.

• 📉 Commercial real estate struggles deepen: Two Trees faces a $108M loan due in 2028 as demand for office spaces in Dumbo dwindles.

• 🛠️ Dumbo’s identity is at stake: As commercial tenants and artists leave, Dumbo risks losing the creative energy that once made it a hotspot.

Commercial Real Estate Boom: 50 Game-Changing Projects to Watch 🏗️ read the full 2,409-word article here

Article published: November 27, 2024

Arizona is rewriting the playbook for commercial real estate in 2025, with 50 projects that are reshaping cities like Phoenix, Gilbert, and Scottsdale. Even after pandemic disruptions, the state's industrial and mixed-use developments are thriving, fueled by bold innovation and sky-high demand.

From a $1 billion mega-project in Gilbert, The Ranch, which combines light industrial, multifamily, and retail, to Glendale's Virgin Industrial Park, a 1-million-square-foot industrial hub powered by clean energy, the scale and ambition are staggering.

Key trends driving these projects include industrial outdoor storage, eco-conscious designs like Mesa’s Child Crisis Arizona Center for Child & Family Wellness, and mixed-use developments catering to surging population growth. The stakes are high, and the payoff? A commercial sector positioning Arizona as a national leader in logistics, healthcare, and tech infrastructure.

Key Takeaways:

• 🚛 Industrial dominance: Projects like Eastmark Center of Industry and The Ranch highlight Arizona’s booming demand for large-scale industrial spaces.

• 🏗️ Mixed-use mastery: Developments like Gilbert’s The Ranch and Tempe’s Macayo’s Depot Cantina Redevelopment merge retail, residential, and industrial to fuel growth.

• 🌱 Sustainability shines: Mesa’s Child Crisis Arizona campus demonstrates a push for eco-friendly, net-zero designs in commercial construction.

• 🌆 Population-driven demand: Prasada North in Surprise and Scottsdale’s Thunderbird Commerce Park reflect how population growth shapes Arizona’s commercial market.

Why It Matters

Real estate isn’t just about transactions—it’s about transformation.

Whether it’s safeguarding Brooklyn’s identity or driving sustainability in Arizona, these stories showcase how innovation, resilience, and community focus can reshape the industry and impact lives.

This is the pulse of progress—are you keeping up?

Anne Morgan
Editor-in-Chief
Commercial Real Estate Weekly