ROCHESTER HILLS, MICH. — Lightning Technologies LLC has signed a 27,730-square-foot industrial lease in Rochester Hills, about 25 miles north of Detroit. The manufacturer of polyurea spray coating for shipping pallets will occupy the space at 2700 Bond St. Jay-R Development LLC is the building’s landlord. Larry Schultz of Friedman Integrated Real Estate Solutions represented the tenant in the lease transaction.
PLYMOUTH TOWNSHIP, MICH. — KIRCO/KIRCO MANIX has broken ground on an 80,000-square-foot manufacturing facility in Plymouth Township, about 30 miles west of Detroit. The building, located at 41144 Concept Drive, will be home to Oerlikon Metco Inc. Peter E. Kepic and Peter J. Kepic of Colliers International coordinated the project on behalf of Oerlikon Metco. The Switzerland-based industrial and technology solutions group plans to use this location for producing advanced titanium alloys and high-end thermal spray powders for the automotive, aerospace, agricultural and medical industries. The facility is slated for completion in the spring of 2018.
OAK PARK, MICH. — Soaring Pine Capital has provided a $1.7 million loan for the acquisition of an industrial portfolio in Oak Park, a northern suburb of Detroit. The borrower, Paramount Industrial Machining Inc. (PIMI), used the loan to purchase three industrial buildings formerly owned by Paramount Precision Products Inc. PIMI is a leading supplier of precision component machining for the automotive, industrial, service and aftermarket business segments.
KALAMAZOO, MICH. — NewCraft Cabinetry has opened a 4,446-square-foot retail store at Hatfield Avenue in Kalamazoo. This will be the cabinetry company’s first retail location. Marc Tourangeau and Kara Schroer of NAI Wisinski arranged the lease transaction for the standalone store.
FLAT ROCK, ROMEO AND WAYNE, MICH. — The Michigan Strategic Fund board has approved performance-based grants and State Essential Services Assessment Exemptions to support Ford Motor Co.’s investment of approximately $2 billion in the automaker’s Flat Rock, Wayne and Romeo assembly plants. As part of the agreement, Ford will create approximately 700 new jobs at its Flat Rock Assembly Plant and approximately 100 new jobs at the Romeo Engine Plant. Ford plans to invest approximately $1 billion at its Flat Rock plant to build a data center and transform the plant into a manufacturing innovation center capable of producing electrified and autonomous vehicles, in addition to the Ford Mustang and Lincoln Continental. Ford expects to begin producing the first of these vehicles in 2020, including an all-new fully electric small SUV engineered to deliver an estimated range of at least 300 miles and its first fully autonomous hybrid vehicle for commercial application. The company will invest $1 billion in its Romeo and Wayne facilities, primarily to support Ford Ranger and Ford Bronco production.
DETROIT — Bernard Financial Group has arranged a $5.2 million loan for the construction of Baltimore Station in Detroit. The 22-unit luxury apartment complex will also feature 8,100 square feet of retail space. TCF Bank provided the loan. Dennis Bernard and Kevin Kovachevich of Bernard arranged the loan on behalf of the borrower, Baltimore Station LLC.
PONTIAC, MICH. — The City of Pontiac and the stadium ownership group have agreed to demolish The Pontiac Silverdome, the former home to the Detroit Lions, according to Crain’s Detroit Business. The 127.5-acre site hosted the Lions from 1975 until the team moved to Ford Field in 2002. Neither a timeframe for the demolition nor a redevelopment plan has been established yet. Toronto-based Triple Properties Inc. has owned the stadium since 2009, when the company purchased the property from the city for $583,000. Last month, the city sued Triple Properties, citing safety code violations and illegal storage of vehicles.
TRAVERSE CITY, MICH. — Colliers International has arranged an 18.3-acre ground lease for Costco near Cherry Capital Airport in Traverse City. Costco will build a new wholesale warehouse at the site. The size of the building was not disclosed, but the Traverse City Record Eagle reports the size at 156,000 square feet. Max Goldman of Colliers represented Costco in the lease of the property from Northwestern Regional Airport Commission. Construction will commence immediately with the opening planned for the fourth quarter of this year.
TROY, MICH. — Signature Associates has negotiated the sale of an 88,886-square-foot industrial building located at 1600-1630 E. Big Beaver Road in Troy. Paul Hoge and John Boyd of Signature Associates represented the seller, Iron Point Troy Industrial LLC. Boyd also represented the buyer, DB1600 LLC.
DETROIT — Woodpile BBQ Shack has signed a 2,000-square-foot retail lease in Detroit to open its second location in Southeast Michigan. The restaurant will be located at 6402 Woodward Ave. in the Baltimore Station development. The project will consist of the renovation of two vacant buildings at 6402 and 6408 Woodward Ave. in the New Center area, including approximately 8,000 square feet of retail space throughout the ground level and 23 apartment units on the second and third floors. Woodpile BBQ Shack will open once the development is completed in early 2018. Ben Hubert and Ben Rosenzweig of Colliers International represented the Clawson, Mich.-based barbecue establishment in the transaction. The duo also represented the landlord, The Platform.
