1867 — Seward purchases Alaska from Russia for $7.2 million, or about 2-1/2 cents per acre, proving that keen foresight and skillful negotiation can uncover hidden gems in the most unexpected places.
Real estate has long been known as a wise investment, but finding the perfect site represents only the beginning of a complex journey. Bodman’s real estate specialists guide clients throughout this journey, from purchase, financing and development to leasing, operation and sale.
Our real property clients include large and mid-size firms, many of them high tech or information systems firms. We have close working relationships with commercial real estate brokers and we are familiar with real estate market opportunities throughout the state.
We represent buyers and sellers in commercial and residential transactions, and we document real estate loan transactions for financial institutions. We initiate creative solutions for distressed real estate projects. We are expert in real estate dispute resolutions processes, such as arbitration, mediation and litigation.
We have particular expertise in traditional and innovative uses of condominiums in both residential and business projects, including use of the condominium form of ownership in public/private redevelopment. On our clients’ behalf, we work closely with developers, engineers and governmental authorities. We also assist in due diligence reviews (particularly environmental reviews), and assist in the municipal approval process.
Typical services include:
Assisting private developers with:
Representing lenders and borrowers in:
We represented the purchaser of several commercial buildings in downtown Ann Arbor, including conversion of the buildings to business condominium projects and negotiation of tenant leases and construction contracts.
We established creative uses of business condominiums in public-private redevelopment projects in downtown Detroit, including a major stadium project.
A newsprint manufacturer used our services in its sale of 33,000 forested acres in northern Michigan to a pension investment company.
We represented a national home furnishings retailer in the purchase of land for an office and warehouse development in Canton, Michigan, the sale of its existing facility, and structuring the transaction as a tax-deferred exchange.
Our firm represented a private foundation in the acquisition of 6,000 acres of Lake Michigan shoreline dunes for transfer to a land conservancy
We represented the purchaser in the aggregation of 900 acres located near Detroit Metropolitan Airport for hotel, office, residential, convention and recreational uses.
A major league sports franchise relied on us to conduct its lease negotiations with a municipal stadium owner.
We negotiated an administrative agreement with the Michigan Department of Environmental Quality related to the downtown Detroit stadiums project, one of the largest Brownfield redevelopment projects implemented in Michigan.
A private foundation utilized our counsel in the acquisition of commercial property in Flint, Michigan, involving resolution of historic environmental liabilities and the award of a state Brownfield grant.