Michigan

Mission Point Acquires Former Care Facility in Detroit, Plans Skilled Nursing Redevelopment

by Kristin Harlow June 20, 2017

DETROIT — Mission Point Management Services LLC, in partnership with Slavik Cos., Welbrook Senior Living and Pierre and Hany Boutros, has acquired the former St. Mary’s Adult Foster Care Residence in Detroit’s Lafayette Park. The purchase price was not disclosed, but Mission Point plans to invest $13 million to transform the 37,000-square-foot former foster care facility into a 59-bed skilled nursing and rehabilitation center. Focusing on short-term physical and occupational therapy, the center will serve patients in their transition between the hospital and home. The center, originally constructed by the Archdiocese of Detroit and operated by the Daughters of Divine Charity until 2013, will feature 54 private suites, as well as a full rehab center, private dining, recreation facilities and concierge services. Completion of the center, located at 2102 Orleans St., is slated for spring 2018.

June 20, 2017

Loans Michigan Midwest Multifamily

Capital One Provides $15.3M Acquisition Loan for Manufactured Housing Community in Kalamazoo, Michigan

by Kristin Harlow June 20, 2017

KALAMAZOO, MICH. — Capital One has provided a $15.3 million Fannie Mae loan for the acquisition of Country Acres Village in Kalamazoo. The 320-space manufactured housing community (MHC) is restricted to residents 55 years of age and older. Built in three separate phases between 1976 and 1990, the community features amenities such as an indoor pool and spa, fitness center and community building. Damon Reed of Capital One originated the 10-year loan, which includes a 30-year amortization schedule. The sponsor is an investor that operates 10 MHC communities in Washington and Oregon.

June 20, 2017

Michigan Midwest Retail

NAI Wisinski Negotiates Third Michigan Location for Employment Agency

by Kristin Harlow June 16, 2017

LOWELL, MICH. — NAI Wisinski of West Michigan has negotiated a third Michigan location for Fettig Employment Agency in Lowell, about 18 miles east of Grand Rapids. The agency began occupying the 1,087-square-foot retail storefront at 11635 Fulton St. last month. The company, founded in 1995, also maintains locations in Rockford and Grand Rapids. Todd Leinberger and Doug Taatjes of NAI Wisinski negotiated the two-year lease on behalf of Fettig. Tri-Cord Enterprises is the building landlord.

June 16, 2017

Industrial Michigan Midwest

Wurth Baer Signs 55,045 SF Industrial Lease in Oak Park, Michigan

by Kristin Harlow June 15, 2017

OAK PARK, MICH. — Wurth Baer Supply Co. has signed a 55,045-square-foot industrial lease in Oak Park, a suburb north of Detroit. The wholesale distributor to the woodworking industry will occupy the space at 13390 Cloverdale St. The landlord, Bar Pro Ventures LLC, recently purchased the facility with plans to complete an interior renovation including 3,500 square feet of office space. Jason Capitani of L. Mason Capitani CORFAC International and Steven Podolsky of Podolsky Circle CORFAC International represented Wurth Baer in the lease transaction.

June 15, 2017

Civic Michigan Midwest

City of Lansing to Relocate City Hall, Redevelop Property in Michigan

by Kristin Harlow June 14, 2017

LANSING, MICH. — The City of Lansing has selected CBRE|Martin to procure a developer for the redevelopment of city hall located at 124 W. Michigan Ave. The 30,274-square-foot property is located directly across the street from the State Capitol Building. The redevelopment could include retail, office, entertainment, hospitality or residential concepts. The City of Lansing plans to relocate city hall, prior to the redevelopment of the current site. Although potential locations have been identified, no decision has been finalized. Therefore, the City of Lansing is willing to entertain proposals that include solutions for the construction of the new city hall. CBRE|Martin will be marketing the opportunity through a Request for Qualifications and Proposals (RFQP) process to developers throughout the country. Qualified candidates will ultimately be chosen by the city.

June 14, 2017

Industrial Michigan Midwest

Wolverine Breaks Ground on 300,000 SF Food Manufacturing Facility Addition in Kentwood, Michigan

by Kristin Harlow June 14, 2017

KENTWOOD, MICH. — Wolverine Building Group has broken ground on a 300,000-square-foot addition for Hearthside Bakery’s food manufacturing facility in Kentwood, about nine miles south of Grand Rapids. The $7 million project will expand storage space for the company, which manufactures snack bars, cookies, crackers, pretzels, croutons, breadcrumbs and other baked goods. Currently, Hearthside Bakery occupies a 255,000-square-foot location and stores raw ingredients in 53-foot semi-trailers at off-site locations around Michigan. Housing all the ingredients in one location will improve the company’s efficiency. Robert Grooters Development will own the new addition, and lease it to Hearthside Bakery.

June 14, 2017

Michigan Midwest Retail

Mid-America Brokers Sale of 174,353 SF Shopping Center in Delta Township, Michigan

by Kristin Harlow June 14, 2017

DELTA TOWNSHIP, MICH. — Mid-America Real Estate Corp. has brokered the sale of a 174,353-square-foot shopping center in Delta Township, a western suburb of Lansing. The sales price was not disclosed. Marketplace at Delta Township is located at the southwest corner of I-69 and Saginaw Highway. Michaels, PetSmart, Tractor Supply Co. and Ulta anchor the center. GDA Real Estate Services purchased the property. Ben Wineman, Carly Gallagher and Daniel Stern of Mid-America brokered the transaction on behalf of the seller, a public REIT.

June 14, 2017

Michigan Midwest Multifamily

City of Detroit Unveils Plans for $32M Apartment Property in Midtown

by Kristin Harlow June 13, 2017

DETROIT — The City of Detroit has unveiled plans for a $32 million, 84-unit apartment property in Midtown’s Sugar Hill Historic District. The plans call for 25 percent of the units to be designated as affordable housing for those making between 50 and 80 percent of the area median income. The project will also include 7,000 square feet of commercial space and a 300-space parking garage. Sonya Mays of Develop Detroit and Rodger Brown of Preservation of Affordable Housing Inc. will lead the development team. Phil Freelon, the architect behind the design of the National Museum of African American History and Culture in Washington, D.C., will lead the design team along with Michael Poris of McIntosh Poris Associates. The developer will purchase the vacant land — which spans slightly more than three-quarters of an acre — from the city for $400,000, pending council approval later this year. The development team is expected to break ground on the project in September 2018.

June 13, 2017

Michigan Midwest Office

Colliers Arranges $33M Sale of Office Properties in Ann Arbor and Troy, Michigan

by Kristin Harlow June 12, 2017

ANN ARBOR AND TROY, MICH. — Colliers International has arranged the sale of two office properties in Ann Arbor and Troy for a combined $33 million. Allegiance Realty sold 901 Tower Drive in Troy to a group of local investors, including Neil Doshi and Peter Burton. The property is a 124,911-square-foot Class B office building. Shamie Development Co. and Pomeroy Investments sold 5210 and 5220 S. State St. in Ann Arbor to members of the Eyde family based in Lansing. Totaling 120,720 square feet, the office property is 100 percent leased to three tenants. Barry Swatsenbarg of Colliers brokered the transactions.

June 12, 2017

Michigan Midwest Multifamily

State of Michigan Provides $1M Grant for Redevelopment of Former Statler Hotel Site in Detroit

by Kristin Harlow June 9, 2017

DETROIT — The Michigan Department of Environmental Quality (MDEQ) has provided a $250,000 loan and a $750,000 grant for the redevelopment of the former Statler Hotel site in Detroit. The Detroit/Wayne County Port Authority received the funding. Located at the corner of Washington Boulevard and Park Avenue, the property has been vacant since the hotel was abandoned in 1975 and demolished in 2005. The MDEQ brownfield grant and loan will cover the costs of mitigating the environmental contamination at the site. VG Statler City LLC will then construct a mixed-use building with 288 apartment units, ground-floor retail and underground parking. The redevelopment will meet national green building standards, including a green roof, and will bring an estimated 58 jobs and 400 residents to the area. The MDEQ’s brownfield redevelopment program provides grants and loans to local governments for environmental activities on brownfield properties where redevelopment is proposed.

June 9, 2017

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