Thursday, May 15, 2025
Read the Digital Magazines Subscribe to the Magazines
Subscribe

Michigan

DevelopmentMichiganMidwestMultifamilyRetail

Construction Underway on Adelaide Pointe Marina, Residential Development in Muskegon, Michigan

by Kristin Harlow

MUSKEGON, MICH. — Residential phases are underway and major infrastructure is in motion at Adelaide Pointe, a lakefront project in Muskegon, a western Michigan city located along Lake Michigan. Entrepreneur Ryan Leestma is spearheading the development. Backed by over $85 million in private capital and part of a broader $250 million master plan, Adelaide Pointe is located in a federally designated Opportunity Zone and anchored on a manmade peninsula surrounded by water. The project marks one of the largest waterfront developments in the state and Michigan’s largest Opportunity Zone project to date. The development will feature a 454-slip marina, luxury condominiums, a yacht club, boardwalk and commercial village.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsMichiganMidwestMultifamily

Marcus & Millichap Brokers $9.7M Sale of Manufactured Housing Community in Port Huron, Michigan

by Kristin Harlow

PORT HURON, MICH. — Marcus & Millichap has brokered the $9.7 million sale of Port of Call Manufactured Housing Community in eastern Michigan’s Port Huron. Developed in 1995, the community is licensed for 146 homesites, 143 of which are occupied. Of the homes, 112 are community owned and 31 are tenant owned. All utilities are public and individually metered, and the property features off-street parking, community lighting and a basketball court. Chase Gilewski and Marcus & Millichap represented the seller and procured the buyer. Luke Lamoreaux of Marcus & Millichap Capital Corp. arranged $7.2 million in acquisition financing through a national housing lender that specializes in manufactured, modular and mobile homes.

Continue Reading
FacebookTwitterLinkedinEmail
LoansMichiganMidwestMultifamilyStudent Housing

District Capital Secures $25.1M Acquisition Loan for Michigan Student Housing Property

by Kristin Harlow

DEARBORN, MICH. — District Capital has secured a $25.1 million first mortgage loan for a 622-bed student housing community at the University of Michigan – Dearborn. Mike Lemon of District Capital arranged the nonrecourse loan through a bank. The loan features a five-year term, fixed interest rate, one year of interest-only payments and a 30-year amortization.

Continue Reading
FacebookTwitterLinkedinEmail
Leasing ActivityMichiganMidwestRetail

Evexia Wellness Spa Signs 3,603 SF Retail Lease at Country Creek Commons in Metro Detroit

by Kristin Harlow

OAKLAND TOWNSHIP, MICH. — Evexia Wellness Spa has signed a 3,603-square-foot retail lease to open its second location in Oakland Township, about 32 miles north of Detroit. Evexia will occupy space at the Kroger-anchored Country Creek Commons shopping center, which is located at the northwest corner of Adams and Silverbell roads. Owen Kelly and Michael Murphy of Gerdom Realty & Investment represented the tenant, while Eric Banks of Dominion Real Estate Advisors represented the undisclosed landlord.  

Continue Reading
FacebookTwitterLinkedinEmail
HealthcareLeasing ActivityMichiganMidwest

Lakeshore Ear, Nose & Throat Center Inks 6,567 SF Lease in Auburn Hills, Michigan

by Kristin Harlow

AUBURN HILLS, MICH. — Lakeshore Ear, Nose & Throat Center has signed an 89-month lease for 6,567 square feet of medical office space at 2251 N. Squirrel Road in Auburn Hills. James Mitchell and David McNabnay of Dominion Real Estate Advisors represented the landlord, Five Points Professional Office Building LLC. Michael Pulcini of M P Real Estate Consulting represented the tenant, which maintains six locations in metro Detroit.

Continue Reading
FacebookTwitterLinkedinEmail
Leasing ActivityMichiganMidwestRestaurantRetail

Soul Food Restaurant Signs 7,198 SF Lease at Eureka Plaza in Southgate, Michigan

by Kristin Harlow

SOUTHGATE, MICH. — A soul food restaurant has leased 7,198 square feet of retail space at Eureka Plaza in Southgate, a southwest suburb of Detroit. The lease brings the shopping center to full occupancy. There is still proposed outlot availability at the property, with up to 2,500 square feet with drive-thru capability. Michael Murphy of Gerdom Realty & Investment represented the undisclosed landlord.

Continue Reading
FacebookTwitterLinkedinEmail
Leasing ActivityMichiganMidwestRestaurantRetail

Domino’s to Open 1,800 SF Location at Detroit’s Chene Square

by Kristin Harlow

DETROIT — Domino’s Pizza has signed a lease to open an 1,800-square-foot location at Chene Square in Detroit. The retail center is located on East Jefferson Avenue and Chene Street. Michael Murphy of Gerdom Realty & Investment represented the corporate tenant. Benji Rosenzweig of Colliers represented the undisclosed landlord.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsMichiganMidwestRetail

Boulder Group Arranges $3.5M Sale of Walgreens-Leased Retail Building in Michigan

by Kristin Harlow

MUSKEGON, MICH. — The Boulder Group has arranged the $3.5 million sale of a single-tenant, retail property net leased to Walgreens in Muskegon within western Michigan. The 15,567-square-foot building is located at 840 W. Sherman Blvd. There are more than 13 years remaining on the lease with 12 five-year renewal options. There are 5 percent rental escalations every five years in both the primary term and each option period. The lease is corporately guaranteed by Walgreens. Randy Blankstein and Jimmy Goodman of Boulder represented the seller, a full-service commercial real estate firm based in Florida. A Michigan-based commercial real estate company was the buyer.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsMichiganMidwest

TEI, Lormax Stern Acquire 314,438 SF Kensington Valley Outlets in Howell, Michigan

by Kristin Harlow

HOWELL, MICH. — Time Equities Inc. (TEI) and Lormax Stern have acquired Kensington Valley Outlets in Howell, about 55 miles northwest of Detroit. The 314,438-square-foot outlet center was formerly known as Tanger Outlets Howell. Built in 1996, the property is home to tenants such as H&M, Old Navy, Nike Factory Store, Columbia, Banana Republic, Gap, Polo Ralph Lauren Factory Store, Famous Footwear and Eddie Bauer. The outlet center is located along the I-96 corridor and has received 1.3 million customer visits in the last year. Ami Ziff, Jonathan Kim, Grant Scott and Eli Smith represented TEI on an internal basis, and Andrew Bell, Matt Drozd, Sam Pietsch and Mark Franchini internally represented Lormax Stern. Mark Strauss of Institutional Property Advisors, a division of Marcus & Millichap, represented the undisclosed seller.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsIndustrialMichiganMidwest

DWG Capital Partners Buys 49,000 SF Michigan Industrial Portfolio in Sale-Leaseback

by Kristin Harlow

KALKASKA, MICH. — DWG Capital Partners has purchased an industrial manufacturing portfolio in Northwest Michigan in a sale-leaseback with Kalkaska Screw Products. The neighboring facilities total 49,000 square feet on 13.4 acres in Kalkaska. Employee-owned Kalkaska Screw Products manufactures highly engineered machined components primarily for the automotive, aerospace and heavy truck industries. Brent Lowell of Community Choice Credit Union originated acquisition financing. Luke Timmis, Griffin Pitcher, Mark Woods and Cade Kozlowski of Signature Associates represented the seller.

Continue Reading
FacebookTwitterLinkedinEmail
Newer Posts
Older Posts