Clark Hill member Paul Magy moderated a panel discussion on the Michigan economy with a special focus on the real estate market at the Birmingham Bloomfield Chamber of Commerce (BBCC)’s “Economic & Real Estate Forecast Breakfast” on Thursday, Jan. 17 - (P

Jan 23, 2013
BIRMINGHAM, MICH. – Clark Hill member Paul Magy moderated a panel discussion on the Michigan economy with a special focus on the real estate market at the Birmingham Bloomfield Chamber of Commerce (BBCC)’s “Economic & Real Estate Forecast Breakfast” on Thursday, Jan. 17, 2013. The panel featured Paul Traub of the Federal Reserve Bank of Chicago, Detroit branch; and David Trott, chairman of Trott & Trott. The event was held Thursday morning at the Townsend Hotel in Birmingham, Mich.

Traub identified a number of positive factors indicating an upward trend in the national and Michigan economies. Though he still characterized the recovery as fragile, he focused on the opportunity existing because of lower purchase prices vs. new construction costs and lower interest rates. Traub said that outlook and attitude can be especially important in a fragile economy. Trott focused on the real estate market and also characterized it as a time of opportunity.

Magy is a member of the firm’s Real Estate Practice Group. He possesses extensive commercial real estate experience, which includes acquisition, development, finance, zoning, leasing and sale of commercial real estate, in addition to litigation experience in receiverships, distressed assets and retailer bankruptcy. Magy is an active member of a number of community organizations, including president of the Building Owners and Managers Association (BOMA) of Metropolitan Detroit and member of the International Council of Shopping Centers (ICSC). He was awarded ICSC’s highest honor, the Trustees Distinguished Service Award, and is currently chair of Michigan’s ICSC Continuing Education Program for Real Estate Professionals. Magy received Martindale-Hubbell’s highest possible rating in 2012, AV Preeminent®.

The BBCC provides a variety of networking opportunities including Business After Hours and Chamber 411, as well as informational sessions like the Economic Forecast Luncheon.