|January 26, 2005
||Ann Arbor News|
Entrepreneur Concannon combines his businesses
Company will handle range of development functions in area
Wednesday, January 26, 2005BY MIKE RAMSEYNews Business Reporter
When it comes down to it, Michael Concannon is an entrepreneur.
You have to say that because you can't define all of his professions in one breath. He's a lawyer. He's a real estate developer. He's a real estate broker, a builder and property manager.
For a quarter-century, Concannon, 52, has been a player in a variety of areas in the Ann Arbor real estate scene. He has interests in five companies, and has built houses and shopping centers and rehabbed mortgage repossessions for resale.
But now Concannon is consolidating his interests into one business: The Concannon Co.
The company will handle development, building, brokerage, management and real estate consulting. And don't forget that Concannon still has his law practice to close real estate deals.
"The Concannon Company formed in October," he said. "It is the successor of everything we've done in the past 25 years."
Concannon, through a holding company called Praedium Group Inc., is a principle owner of Bridgefield Homes Inc., a residential builder. He also owns Mercantile Realty Inc., a brokerage, and Realco Development Inc., a commercial developer. He also owns HandyServ, a handyman company, and half the interest in a construction company, V&T Builders Inc.
Some of his projects include South Main Market and Plymouth View Shopping Center. He's also responsible for Bridgefield Estates on Platt Road and Pineview Golf Estates in Ypsilanti Township.
Now he is planning to sell HandyServ and his interest in V&T, and to close up shop on the other businesses as existing projects wind down. He's also buying out other partners' interest in some existing projects, such as West Towne Condominiums planned for West Liberty and Maple streets in Ann Arbor.
He said one of the drawbacks to operating under different company names is that people didn't realize he was involved in so many aspects of the business.
Now he intends to market his name and expertise.
He also is changing his law practice, which primarily handles real estate and construction. He has hired a lawyer and plans to hire another, and is moving towards flat-fee service for real estate matters.
As for the Concannon Co., it already has several projects in the works. The farthest along is a plan for a three-story office and retail building in Saline.
He has contracts to purchase the 0.8-acre Saline Dodge-Chrysler-Jeep dealership and the neighboring defunct Clark gas station.
Mike Ramsey can be reached at firstname.lastname@example.org or (734) 994-6864.