Wednesday, February 26, 2025
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AcquisitionsHealthcareMichiganMidwest

Dominion Arranges Sale of Medical Office Condo in Flint Township, Michigan

by Kristin Harlow

FLINT TOWNSHIP, MICH. — Dominion Real Estate Advisors LLC has arranged the sale of a 1,632-square-foot medical office condominium in Flint Township for an undisclosed price. The property at 1128 S. Linden Road is situated near Flint’s “Medical Mile,” which is home to major hospitals such as Hurley Medical Center and McLaren Hospital. James Mitchell of Dominion represented the seller, Imperial Holdings LLC also known as Imperial Wellness Center LLC. Jack Fox of Piper Realty Co. represented the buyer, Peace of Mind Counseling LLC, which will use the premises for counseling services.

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DevelopmentLoansMichiganMidwestMultifamilySeniors Housing

CHC, FHL Bank Atlanta Provide Financing for 60-Unit Affordable Seniors Housing Project in Southfield, Michigan

by Kristin Harlow

SOUTHFIELD, MICH. — Community Housing Capital (CHC) and the Federal Home Loan Bank of Atlanta (FHLBank Atlanta) have provided financing for John Grace Arms, an affordable seniors housing project in Southfield. Sourced from FHLBank Atlanta’s Affordable Housing Program (AHP) general fund and administered through CHC, a member of FHLBank, the financing totals $750,000 in grant funding. An adaptive redevelopment of a historic school building, John Grace Arms will total 60 rental units with 5,000 square feet of community space. MiSide is the developer of the project, which is scheduled for completion in 2026. 

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AcquisitionsIndustrialMichiganMidwestWisconsin

Phoenix Investors Acquires Two Stellantis Industrial Facilities Totaling 2.3 MSF in Michigan, Wisconsin

by Kristin Harlow

MARYSVILLE, MICH. AND MILWAUKEE — An affiliate of Phoenix Investors has acquired two industrial properties totaling roughly 2.3 million square feet and 145 acres in Michigan and Wisconsin for an undisclosed price. The facilities are located at 840 Huron Blvd. in Marysville, Mich., and 3280 S. Clement Ave. in Milwaukee. Both were previously owned by FCA US LLC, a wholly owned subsidiary of global automaker Stellantis, which leases both buildings. Phoenix’s portfolio now exceeds 80 million square feet nationwide. Tony Avendt and Jeff Hoffman of Cushman & Wakefield brokered the sale.

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Leasing ActivityMichiganMidwestRestaurantRetail

Domino’s to Open 1,904 SF Location at Studio One in Midtown Detroit

by Kristin Harlow

DETROIT — Domino’s Pizza has leased 1,904 square feet of retail space at the Studio One mixed-use development in Midtown Detroit. The property includes multiple stories of luxury apartments as well as national retailers such as Walgreens, Poke Poke and The UPS Store. Michael Murphy and Tjader Gerdom of Gerdom Realty & Investment represented the tenant, while Greg Newman of Keystone Commercial Real Estate represented the undisclosed landlord.

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LoansMichiganMidwestMultifamilySeniors HousingWalker & Dunlop

Walker & Dunlop Arranges $25.9M in Financing for Seniors Housing Community in Metro Grand Rapids

by Kristin Harlow

WYOMING, MICH. — Walker & Dunlop has arranged $25.9 million in permanent financing for Rivertown Ridge, a 152-unit seniors housing community in Wyoming near Grand Rapids. Built in 2019, the Class A property is part of a larger 120-acre master-planned community. Rivertown Ridge features units for independent living, assisted living and memory care. Amenities include a library, bar and entertainment space, theater, fitness center, coffee bar, lounge, activity areas and underground parking. Mary Stuart Hurst and Russell Dey of Walker & Dunlop partnered with Inner Circle Holdings to arrange the 10-year, fixed-rate Fannie Mae loan, which features three years of interest-only payments. The borrower was Redstone Group Management Inc.

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Leasing ActivityMichiganMidwestRetail

Coffee Dreams Signs 2,280 SF Retail Lease at Canton Corners in Michigan

by Kristin Harlow

CANTON, MICH. — Coffee Dreams has signed a 2,280-square-foot retail lease at Canton Corners shopping center in Canton, a western suburb of Detroit. The property, located on Lilley Road, now has one space remaining for lease. Michael Murphy and Jack Melton of Gerdom Realty & Investment represented the undisclosed landlord.

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AcquisitionsIndustrialMichiganMidwest

Motown Museum Sells 11,010 SF Warehouse in Southfield, Michigan

by Kristin Harlow

SOUTHFIELD, MICH. — Dominion Real Estate Advisors LLC has arranged the sale of an 11,010-square-foot warehouse in the Detroit suburb of Southfield that was previously owned by the Motown Museum. The asset was sold as part of the museum’s strategic growth plan to support its ongoing expansion efforts in Detroit. Hitzville USA recently completed its $75 million museum expansion in Midtown Detroit. Eric Banks and Alex Tokarz of Dominion represented the Motown Museum in the sale. Chris Secontine of Signature Associates represented the buyer, Lucent Surgical.

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LoansMichiganMidwestMultifamily

Bernard Financial Group Arranges $2.8M Loan for Refinancing of Multifamily Property in Suburban Detroit

by Kristin Harlow

FARMINGTON HILLS, MICH. — Bernard Financial Group (BFG) has arranged a $2.8 million loan for the refinancing of Botsford Place Terrace Apartments in the Detroit suburb of Farmington Hills. The multifamily property features 98 units. David Ruff of BFG arranged the loan with Genisys Credit Union on behalf of the borrower, Botsford Place Terrace Apartments LLC.

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DevelopmentHospitalityMichiganMidwest

Azul Hospitality Opens 154-Room AC Hotel Detroit

by Kristin Harlow

DETROIT — Azul Hospitality has opened the AC Hotel Detroit, a 154-room hotel in the Brush Park neighborhood of Detroit. The 10-story property marks the first AC Hotel in southeast Michigan. Developed by the Roxbury Group in partnership with Peachtree Group, the hotel features a glass-enclosed lobby bar named The Conservatory, a rooftop venue and the restoration of the historic Bonstelle Playhouse. The Bonstelle, which is separately managed but connected to the hotel, will be used for live performances as well as civic, corporate and private events. Additionally, Azul has converted the Cadillac House, an historic property in Lexington, Mich., into the Tapestry Collection by Hilton. The 23-room hotel underwent an extensive renovation and expansion. The property also features the Hidden Cavern event venue and the Cadillac House Tavern & Bar.

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AcquisitionsMichiganMidwestRetail

Mid-America Brokers Sale of 151,673 SF Bloomfield Plaza Shopping Center in Suburban Detroit

by Kristin Harlow

BLOOMFIELD HILLS, MICH. — Mid-America Real Estate Corp. has brokered the sale of Bloomfield Plaza, a 151,673-square-foot shopping center in the Detroit suburb of Bloomfield Hills. The sales price was undisclosed. Anchor tenants at the fully leased property include Nino Salvaggio International Marketplace and Trader Joe’s. Additional tenants include Andiamo Italian, CVS, Planet Fitness and Sephora. Located at the southwest corner of Maple and Telegraph Roads, the center has served the community since 1957. Ben Wineman and Daniel Stern of Mid-America represented the seller, the family owners of Bloomfield Plaza’s original developer. Jack Berke of Taylor Real Estate Services represented the buyer, a private investor.

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