Notes, case studies, and points of view on real estate development in West Michigan.
sale-leasebackfinancingowner-operator
Most owner-operators are sitting on a quarter of their net worth in real estate that's underwriting nothing. Here's how a sale-leaseback puts that capital back to work.
May 10, 2026 · Max Benedict
industrialwest michigandistributionmanufacturing
Why corporate distribution and manufacturing operations keep choosing West Michigan over Indianapolis, Columbus, or Chicago suburbs. A practical look at labor, transportation, energy, and capital.
May 10, 2026 · Max Benedict
incentivesMEDCmichiganindustrialmultifamily
The Michigan Economic Development Corporation has four programs that show up in most West Michigan capital stacks. Here's what each one does, who qualifies, what the application looks like, and what to expect on timing.
May 8, 2026 · Max Benedict
sale-leasebackestate planningsuccessionfamily business
When the next generation wants the business and the founder needs liquid wealth out, a sale-leaseback is often the cleanest tool on the table.
May 8, 2026 · Max Benedict
industrialincentivesmichigantax abatement
A practical deep dive on Michigan's Industrial Facilities Tax exemption (PA 198) for corporate users evaluating a build-to-suit or expansion: how the abatement is calculated, who approves it, what the timeline looks like, and where it goes wrong.
May 5, 2026 · Max Benedict
multifamilyadaptive reusehistoric rehabdevelopment
Adaptive reuse can save a building. It also costs more, takes longer, and carries surprises that a ground-up project never has to deal with. Here is when adaptive reuse beats ground-up, and the four numbers you should run before you commit.
May 2, 2026 · Max Benedict
multifamilyfinancingcapital stackmichigan
How a multifamily project gets financed in Michigan in 2026. A working framework for the layers of capital, the order they get raised in, and the pitfalls each layer brings.
April 28, 2026 · Max Benedict
industrialcorporatelease
Most corporate users ask 'lease or own' too early. The better question is which structure unlocks the capital plan you actually want to run.
April 22, 2026 · Max Benedict
industrialbuild-to-suitcase study
We just finished a 600,000 sf industrial build-to-suit in Kentwood, fully leased to Proper Beverage Co. and Trane. Here is what was actually involved from site identification to certificate of occupancy.
April 15, 2026 · Max Benedict
industrialgeographywest michigan
A primer on the industrial real estate corridors of West Michigan: Kentwood, Cascade Township, Walker, Wyoming, Grand Haven, and Kalamazoo. What each does well, what to watch out for.
March 29, 2026 · Max Benedict
industrialincentivesguide
Industrial Facilities Tax exemptions, Brownfield TIF, MEDC performance grants, OPRA. The practical rundown of what's available in Michigan in 2026, and how we structure the stack.
March 20, 2026 · Max Benedict
industrialbrownfieldincentivesredevelopment
What counts as a brownfield in Michigan, how Brownfield TIF capture and MDEQ remediation grants actually flow, and why complicated sites often pencil better than they look.
March 12, 2026 · Max Benedict
industrialbuild-to-suitguidecorporate
Twelve plain questions that separate experienced industrial build-to-suit developers from the operators who will hand off problems halfway through the project.
February 22, 2026 · Max Benedict
multifamilyadaptive reuseperspective
The math on adaptive reuse is harder than ground-up. We do it anyway. Here is why.
February 5, 2026 · Third Coast Development
industrialbuild-to-suitprocess
A practical breakdown of how long an industrial build-to-suit takes in West Michigan, what each phase actually involves, and where most projects gain or lose months.
January 30, 2026 · Max Benedict