Chicago & Midwest CRE News In Your Inbox.

Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.

Sub Markets

Property Sectors

Topics

Chicago & Midwest  + Midwest  + Office  | 

Michigan Innovation Headquarters Acquires Eastern Michigan University Building 

Michigan Innovation Headquarters (MI-HQ), a top player in developing innovative life science and technology workspaces, has entered a purchase agreement for Eastern Michigan University’s former College of Business headquarters, the Gary Owens Building, in downtown Ypsilanti.  

The building will be purchased for $2.6 million and will undergo an additional $10-million renovation to build an innovative shared workspace for STEM companies. 

MI-HQ plans to fully renovate the 130,000-square-foot building to provide a functional space for entrepreneurs and scientists while supporting the growth of Ypsilanti. The space is estimated to open the first quarter of 2023 and will provide 300 new jobs to the city. 

“These added innovators will bring additional foot traffic to the downtown core and businesses recovering from the lack of pedestrian traffic during COVID,” said Mark Smith, president of MI-HQ. “With abundant housing stock near the building, there is a great opportunity for workers to be able to locate and walk or bike to work.” 

Connect

Inside The Story

MI-HQ

About Ted Jackson

A highly successful financial journalist, corporate financial writer and magazine entrepreneur with strong expertise in writing on fixed income and pass-through securities (ABS), finance and banking, the economy, economic developments, financial markets, investing and personal finance, the business of behavioral healthcare and more.

  • ◦Sale/Acquisition
  • ◦Development
Money360-15-cube