ANN ARBOR, MICH. — Hunt Mortgage Group has provided a $16 million Fannie Mae loan for the acquisition of Woodchase Apartments in Ann Arbor. The 144-unit garden-style apartment community, located at 1100 Rabbit Run Circle, features 11 buildings and is currently 98 percent occupied. Amenities include a pool, clubhouse and laundry room. Matt Shane of Q10 | Lutz Financial Services arranged the 15-year loan, which features a 30-year amortization schedule. Woodchase Acquisition LLC was the borrower.
DETROIT — Bagley Forest Properties plans to redevelop the former B. Siegal department store building in Detroit into retail and multifamily space. The property is located at the intersection of Livernois Avenue and 7 Mile Road. Construction of the 29,000-square-foot project is expected to begin in the next 45 days with completion slated for early 2019. Matt Hessler of Bagley Forest Properties owns the property. Arthur Itkis and Aaron Moore of JLL will market the property for lease.
DEARBORN, MICH. — Signature Associates has negotiated a 68,305-square-foot office lease renewal and expansion for Jackson Dawson Communications Inc. and its subsidiary Benmar Communications in Dearborn. The creative marketing and branding company, headquartered in Dearborn, occupies the space at 1 Parklane Blvd. Chris Secontine of Signature Associates represented both the tenant and the landlord, Fairlane Venture One LLC, in the lease transaction.
EAST LANSING, MICH. — Core Spaces has broken ground on Hub on Campus East Lansing, a 347-unit student housing property near Michigan State University. The project is located downtown at 918 E. Grand River Ave. The apartments will range from studio to three-bedroom units and will all be fully furnished. Amenities will include a study lounge, clubroom, fitness center and rooftop amenity deck. Retail space will include a 7-Eleven and Georgio’s Pizzeria. A timeline for completion was not disclosed.
LYON TOWNSHIP, MICH. — Newmark Knight Frank (NKF) has arranged a 126,194-square-foot industrial lease for Hydrofarm in Lyon Township, which is located in central northern Michigan. The property, situated at 30104 Research Drive, features a clear height of 28 feet. Constructed in 1999, the warehouse originally served as a build-to-suit for Keebler Cookie Co. Geoffrey Kasselman and Geoff Hill of NKF represented Hydrofarm, a wholesaler and manufacturer of hydroponics equipment and high-intensity grow lights, in the lease transaction. Jon Savoy of Lee & Associates represented the undisclosed landlord.
DETROIT — Broder & Sachse Real Estate has unveiled plans to relocate its office from Birmingham, Mich., to downtown Detroit. The 6,000-square-foot space is located on the third floor of the Arts League Building at 1528 Woodward Ave. The office will be home to the real estate development company’s acquisition, development and property management teams beginning on Monday, March 5. Broder & Sachse has recently developed mixed-use properties in downtown Detroit, including The Scott at Brush Park, The Albert-Capitol Park, The Hamilton Midtown Detroit and Orchestra Place.
DETROIT — Galley Group has unveiled plans to open a food hall in the Federal Reserve Building, owned by Bedrock and located in downtown Detroit. The 8,646-square-foot space will feature an open floor plan with four kitchen spaces and a centralized full bar. Completion is slated for this fall. Applications are now open for chefs to submit their restaurant ideas and vie for a kitchen space. Galley Group is also opening a location in Cleveland this year following its two food halls in Pittsburgh.
DEXTER, MICH. — Redline Athletics has signed a 10,581-square-foot retail lease in Dexter, about 10 miles northwest of Ann Arbor. The youth athletic training center for ages 8-18 will occupy the currently vacant space at 7007-7093 Dexter Ann Arbor Road. This will be the second metro Detroit location for the company, following Farmington Hills. Ben Hubert and Benji Rosenzweig of Colliers International represented the tenant in the lease transaction. The landlord was not disclosed.
MADISON HEIGHTS, MICH. — Signature Associates has arranged the sale of a 29,991-square-foot industrial building in Madison Heights, a northern suburb of Detroit, for an undisclosed price. The property is located at 29370 Stephenson Highway. ZMS Holdings Inc. sold the property to 55 Investments LLC. Paul Hoge of Signature Associates represented the seller.
KENTWOOD, MICH. — Pathway to Living has acquired the former Elmcroft of Kentwood, an 81-unit seniors housing community in West Michigan. The property is located at 4352 Breton Road Southeast, about nine miles southeast of Grand Rapids. Elmcroft Senior Living was the seller. The purchase price was not disclosed. Pathway to Living will manage the 54,387-square-foot property and rename it Azpira Place of Breton. The company also plans to upgrade interiors, add additional wellness-focused spaces and reconfigure select units. When the work is complete, the property will feature 69 assisted living residences and 12 memory care residences.