Michigan

DETROIT — Developer Bedrock has topped off construction of its Hudson’s site project in downtown Detroit. Meanwhile, General Motors Co. plans to leave Renaissance Center for the new development in 2025, according to Crain’s Detroit Business. The project marks Detroit’s largest ground-up development in the past 50 years, according to the developer. Upon completion, the property will house more than 1.5 million square feet of retail, office, dining, hospitality, residential and event space. Construction will continue in a phased approach. Bedrock recently announced on its social media platforms that the name of the development is now Hudson’s Detroit. Construction of the project on the former J.L. Hudson’s department store site began in 2017. Setbacks such as unanticipated underground obstructions and design changes have pushed the development well beyond its original schedule, reports Crain’s. Originally proposed to be 734 feet, the tower now rises 680 feet. GM’s current home, the RenCen, is the tallest building in Detroit and has suffered since the pandemic. Bedrock and GM plan to spend the next year analyzing what to do with the 5.5 million-square-foot property, according to Crain’s.

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PONTIAC, FARMINGTON HILLS AND BAY CITY, MICH. — Maverick Commercial Mortgage Inc. has arranged a first mortgage loan totaling $9 million for three industrial buildings in Michigan. A regional bank provided the five-year loan. The subject properties include a 74,026-square-foot building in Pontiac, a 26,571-square-foot building in Farmington Hills and a 51,138-square-foot facility in Bay City. The borrower, 1788 Holdings LLC, is a Maryland-based real estate investment firm specializing in purchasing and repositioning older light industrial properties and industrial outdoor storage assets.

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MICHIGAN — District Capital has arranged a $7.7 million loan for the refinancing of a 108-bed student housing scattered site portfolio located on a Big Ten campus in Michigan. A life insurance company provided the 30-year loan, which features a 30-year amortization schedule. Dave Dismondy of District Capital arranged the loan on behalf of the undisclosed borrower.

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TROY, MICH. — A joint venture between Cypress Partners and Douglas Capital Partners is slated to open Forum Flats in Troy this month. The luxury apartment complex is comprised of three buildings with 200 units. Amenities include a tenant lounge, pool, dog park and fitness center. The first of the three buildings involved the adaptive reuse of the 100,000-square-foot office space previously utilized by Kelly Services. The two additional ground-up buildings are set to open this summer. The project team included Krieger Klatt Architects and Tower Construction. Monthly rents start at $1,625. Individuals who apply or rent by April 15th will receive a $1,000 discount, which can be applied to their first initial payment. In addition, Forum Flats offers discounts for healthcare workers as part of their preferred employer program, which waives application fees, waives lease administration fees and offers a lower security deposit of $150 with approved credit. 

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CLINTON TOWNSHIP, MICH. — Andiamo Pasta & Chops will open at The Mall at Partridge Creek in Clinton Township, a northern suburb of Detroit. The restaurant comes from Michigan-based Joe Vicari Restaurant Group. The concept will be something new for Michigan restaurants, but the idea will be mirrored off Joe Vicari’s Andiamo Italian Steakhouse in Las Vegas. Andiamo Pasta & Chops is slated to open this summer in the 7,670-square-foot space formerly home to Brio Italian Grille at 17430 Hall Road. Renovation plans call for the space to be completely redesigned and reconfigured around a central bar, which will become the centerpiece of the new restaurant. There will also be a lounge area, two dining rooms and a separate banquet area. The Mall at Partridge Creek is a 640,000-square-foot, open-air shopping center that is home to more than 80 stores, restaurants and entertainment sites. The mall is leased and managed by Spinoso Real Estate Group.

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SOUTH LYON, MICH. — World Custom Alterations is relocating its shop from Northville to downtown South Lyon, about 16 miles northeast of Ann Arbor. The tenant has leased a 1,500-square-foot space on West Lake Street. Michael Murphy of Gerdom Realty & Investment represented the undisclosed landlord.

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DETROIT — Brinkmann Constructors has completed Detroit Commerce Center, a 794,000-square-foot office and industrial development in Detroit. NorthPoint Development was the developer. Located on the site of the former American Motors Corp. headquarters, the project included eight office build-outs for an automotive parts supplier. studioNorth Architecture served as the project architect.

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ANN ARBOR, MICH. — Edge Autonomy Energy Systems has signed a lease for an 85,000-square-foot industrial building located at 5775 Interface Drive in Ann Arbor. A producer of solid oxide fuel cells and ruggedized power solutions, Edge Autonomy Energy Systems and its legacy companies have operated in Ann Arbor for 20 years. The property on Interface Drive was originally a high-bay office building and will be converted to meet the tenant’s needs. Kyle Passage, Craig Herschel and Steve Langton of Cushman & Wakefield represented the tenant, while Matt Buslepp of Avison Young represented the landlord, Mansour Cos.

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