Michigan

MIDLAND, MICH. — Marcus & Millichap has arranged the sale of the SpringHill Suites by Marriott Midland for an undisclosed price. The 96-room, three-story hotel is located just off US Highway 10 in Midland, a city in central Wisconsin. The asset is set to undergo a full renovation to the newest Marriott brand standards. Ebrahim Valliani and Michael Klar of Marcus & Millichap represented the buyer and seller, both of which were private investor groups. Chris Gomes and Allan Miller of the brokerage firm were also listed on the deal as supporting brokers.

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ROCHESTER HILLS, MICH. — Peace Love & Little Donuts has signed a lease to open a 1,164-square-foot location at the Papa Joe’s Plaza shopping center in Rochester Hills. Michael Murphy and Vicki Gutowski of Gerdom Realty & Investment represented the tenant, while Lawrence Randazzo of Hayman Co. represented the undisclosed landlord. Pittsburgh-based Peace Love & Little Donuts operates in 14 states.

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DETROIT AND ANN ARBOR, MICH. — NAI Farbman, the brokerage arm of Farbman Group, has brokered two receivership sales in Detroit and Ann Arbor. The first sale was of 521 and 609 Old Saint Jean St., two industrial properties located a few blocks from the Detroit River. Dan McCleary and Nathan Casey of NAI Farbman brokered the deal. The second sale was of 30 Parkland Plaza and 4621 Park Road, two office properties in Ann Arbor. Brad Margolis and Wendy Acho of NAI Farbman arranged the sale. Further details were not provided.

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DETROIT, LOS ANGELES, SAN ANTONIO AND TORONTO — The Home Depot Inc. (NYSE: HD) has announced plans for four new distribution centers in Detroit, Los Angeles, San Antonio and Toronto. The new facilities are a key component of the company’s efforts to cater to professional customers such as developers, general contractors, remodelers and property managers. The new distribution centers will stock large, bulky merchandise such as lumber, insulation and roofing shingles. The new distribution centers are expected to open in the first half of this year. Home Depot has opened similar hubs across the U.S. and expects to have 17 facilities equipped with new capabilities for pros by the end of 2024. In addition to the new distribution centers, Home Depot plans to expand its offerings to professional customers with localized product assortment tailored to each market, digital tools to manage complex orders, and special credits and pricing for professional customers. “Over the last several years, we have been investing to deliver a faster, more convenient, differentiated experience for our pros,” says Chip Devine, senior vice president of outside sales for Home Depot. “Our distribution network is one piece of the comprehensive pro ecosystem we’re building to better meet the needs …

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MOUNT CLEMENS, MICH. — Neway Creative, a coworking facility in downtown Mount Clemens, is relocating to 75 N. Main St. on the third floor. The company’s new space totals 5,100 square feet. Neway Innovation Hub works to empower adolescents through the nonprofit arm Neway Works Inc., a 501(c)(3) organization that provides youth mentoring and development services. With this collaboration, Neway Creative is launching an art-therapy program in partnership with Neway Works supporting youth battling depression and anxiety. The new space also features private therapy space tailored for counseling professionals. Signature tenants of the Neway Innovation Hub include Analytic Healthcare Solutions, Jim DiFalco Farm Bureau, Neway Works, Renovations Now and SEO Plus CRO.

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MICHIGAN — District Capital has arranged a $10.6 million loan for the acquisition of a 205,000-square-foot industrial property in Michigan. Dave Dismondy of District Capital arranged the nonrecourse loan, which features a 60 percent loan-to-value ratio and an 80 percent loan-to-cost ratio. A life insurance company provided the loan. The borrower was undisclosed.

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SOUTHFIELD, MICH. — Friedman Real Estate has negotiated the sale of a 60,000-square-foot office building in Southfield for an undisclosed price. The property at 19900 W. Nine Mile Road was formerly home to Specs Howard School of Media Arts. Dan Verderbar of Friedman represented the undisclosed seller. Life Skills Village, an outpatient mental health and rehabilitation facility, will occupy the building.

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LANSING, MICH. — Marcus & Millichap has arranged the sale of the Quality Suites Lansing, a 115-room hotel in Lansing. The sales price was undisclosed. Located at 901 Delta Commerce Drive, the property features a fitness center, business center, conference room, event space and a sauna. Ebrahim Valliani and Michael Klar of Marcus & Millichap represented the buyer and seller, both of which were private investors. Chris Gomes and Allan Miller of Marcus & Millichap were also listed on the deal as supporting brokers, and Steven Chaben, broker of record in Michigan, assisted in closing the transaction.

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MICHIGAN — Colliers Mortgage has provided a $21.6 million construction loan for an independent living, assisted living and skilled nursing property in Michigan. The project will feature 105 units in a variety of studio, one- and two-bedroom units. Amenities will include a main dining room, bistro, lounge and large community spaces. The loan features a 48-month term with one 12-month extension option. Christopher Fenton and Catherine Eby of Colliers Mortgage, along with Nick Skarich and Kevin McMahon of Colliers Funding, originated the loan on behalf of the undisclosed borrower.

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TECUMESH, MICH. — Dominion Real Estate Advisors LLC has negotiated the sale of the former Herrick Memorial Hospital property located at 500 E. Pottawatamie St. in Tecumesh, about 60 miles southwest of Detroit. The sales price was undisclosed. James Mitchell of Dominion represented the buyer, Greater Midwest Group LLC. The hospital operated as a 50-bed acute care facility until it closed in September 2020. The new owner plans to use the 188,179-square-foot property as a behavioral health facility.

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