Businesses are taking advantage of the buyers' market and moving into great spaces in Detroit loft/condo complexes.
Excerpt:
Attorneys Lois and Jeff Collins recently abandoned their corporate environment near Comerica Park and moved into an eighth-story double loft just across the parking lot.
The couple, formerly of Phifer & White PC, Detroit, called the move a leap of faith. Not only did they choose to start a private practice, they also picked a home-like office setting instead of traditional corporate space. Their office comes equipped with lots of cozy rooms, two kitchens and two full bathrooms.
The Collinses are among a growing group of business owners opting for loft-style work environments. As developers struggle to sell condos and lofts to potential buyers, more are offering to lease these spaces to individuals and businesses. And because these units were originally meant to be residential, businesses are getting good deals on office space.
"We pay about $1.25 a square foot here," said Lois Collins, 50, who toured many properties before deciding on Broadway Lofts in Detroit's restored Lafer Building. Those offering more traditional office settings wanted as much as $16 per square foot, she said.
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