REDFORD TOWNSHIP, MICH. — Friedman Real Estate has negotiated the sale of an 18,800-square-foot industrial property located at 24800 Plymouth Road in the Detroit suburb of Redford Township. Phil Konopitski of Friedman represented the seller, Dudek Property Investments LLC. Crown Specialty Investments LLC was the buyer.
GRAND BLANC, MICH. — Largo Capital Inc. has arranged a $26 million bridge loan for a multifamily property in Grand Blanc, a suburb of Flint. Ned Perlman of Largo Capital arranged the loan through an agency bridge lender. The new loan refinanced the existing construction loan.
ROYAL OAK, MICH. — Alloy Personal Training has signed a 1,500-square-foot retail lease at The Griffin, an apartment complex built in 2021 in the Detroit suburb of Royal Oak. The property is located at the northeast corner of I-696 and Woodward Avenue. Owen Kelly and Michael Murphy of Gerdom Realty & Investment represented the landlord, Singh Development.
LAPEER, MICH. — Bernard Financial Group (BFG) has arranged a $16.9 million loan for the refinancing of a 152-unit multifamily property in Lapeer, about 60 miles north of Detroit. Dan Duggan of BFG arranged the loan on behalf of the borrower, Selective Real Estate LLC. Fannie Mae provided the loan.
ADA, MICH. — Marcus & Millichap has negotiated the sale of Ada Attic Self-Storage, a 342-unit self-storage facility in Ada near Grand Rapids. The sale closed at a 6.62 percent cap rate. Built in 2002, the 52,150-square-foot property comprises climate-controlled and conventional units and was 96 percent occupied at the time of sale. Recent upgrades include new shingles, LED lighting and a modern surveillance system. Eddie Greenhalgh of Marcus & Millichap represented the seller, a family trust/limited liability company, and procured the buyer, Prestige Storage, in association with Steve Chaben, the brokerage firm’s broker of record in Michigan. The transaction marks the first time that the asset has changed hands.
DETROIT — The new home of Detroit City Football Club (DCFC), set to open in southwest Detroit for the 2027 USL Championship season, will be known as AlumniFi Field. AlumniFi will also serve as the club’s exclusive financial partner. Sports Revenue Advisors and M3 Group brokered the multi-year agreement. Pending public approvals, construction on the field is scheduled to begin in late 2025. The soccer-specific stadium will be Detroit’s only privately owned and financed professional sports stadium and will seat 15,000. HOK designed the project. AlumniFi is a digital financial platform created by MSU Federal Credit Union.
LOUISVILLE, KY. AND MARSHALL, MICH. — Automotive giant Ford Motor Co. (NYSE: F) will invest $2 billion at its Louisville Assembly Plant and $3 billion at its BlueOval Battery Park Michigan factory. Combined, the investment will create and secure approximately 4,000 jobs across both plants, as well as spur dozens of new U.S.-based suppliers, according to Ford. Ford’s investments will help the automaker deliver a suite of electric vehicles (EVs), beginning with a midsize, four-door electric pickup truck that will be assembled at its Louisville plant. Ford plans to launch domestic and international sales of the new trucks, which are expected to be priced starting at $30,000, in 2027. Jim Farley, president and CEO of Ford, says that the automaker will be the first in the country to make prismatic lithium iron phosphate (LFP) batteries, which are cobalt- and nickel-free and serve as the floor of the new EVs. Ford plans to begin manufacturing the new prismatic LFP batteries for the new electric truck at BlueOVal Battery Park Michigan next year. Located in Marshall, Mich., the factory is under construction, with the shell built out and mechanical, electrical and piping infrastructure underway. Ford says that the lithium LFP battery cell …
HARTLAND, MICH. — Lockwood Cos. has opened Lockwood of Hartland, a 146-unit senior living community in Hartland, about 50 miles northwest of Detroit. The $46 million project offers one- and two-bedroom independent living apartments, all with private patios or balconies. Sixty-one of the units are designated as affordable housing. The property is situated on 17 wooded acres with nature trails. Amenities include chef-prepared meals, a fitness room, life enrichment programs, a barber shop, beauty salon and theater.
SOUTHFIELD, MICH. — Inland Real Estate Investment Corp. and Devon Self Storage have completed a 77,600-square-foot self-storage facility in the Detroit suburb of Southfield. The project involved the conversion of an office building into a four-story, climate-controlled self-storage facility with 767 units, a 24-hour security system and covered loading area. The property is located at 24700 Northwestern Highway near I-696. Devon is a member of The Inland Real Estate Group of Cos. Inc.
DETROIT — Bedrock has completed City Modern in Detroit’s Brush Park neighborhood. The project adds 20 newly constructed buildings, along with the rehabilitation of three historic mansions into five homes, providing a total of 450 new residences to the area. The mixed-income development features apartments, townhomes, carriage homes, condominiums and 31,000 square feet of retail space. Bedrock worked with six architectural firms on the project — Hamilton Anderson Associates, Merge Architects, Lorcan O’Herlihy Architects, Studio Dwell, McIntosh Poris Architects and Christian Hurttienne. The Residences at City Modern offers 286 rental units across eight buildings. Amenities include rooftop terraces, a fitness center and gathering spaces. The Flats at City Modern is an affordable housing community with 54 units reserved for residents age 55 and older. Opened in 2019, The Flats features a rooftop terrace, fitness space and community lounge. The Carriage Homes at City Modern, developed and built by Hunter Pasteur, provides 53 units. Merge Architects reimagined the traditional carriage house into a duplex-style home with shared courtyards. Hunter Pasteur’s Townhomes at City Modern includes 52 for-sale units. The multi-level residences feature two- to four-bedroom floor plans. Additionally, Bedrock preserved three historic Victorian-era mansions, transforming them into five homes that were …