SCIO TOWNSHIP, MICH. — Forum Group, an NAI Farbman Group partner, has arranged the sale of an 8,000-square-foot retail building in Scio Township, five miles west of Ann Arbor. The sales price was not disclosed. The Class A building is located at 120 S. Zee Road, and is fully occupied by Starbucks, Jimmy John’s, Verizon and Kim’s Spa. Thomas D. Lasky of Forum Group represented the buyer, LPH Ventures LLC. Marcus & Millichap represented the undisclosed seller.
CARO, MICH. — AT&T has signed a 3,991-square-foot retail lease on State Street in Caro, about 45 miles north of Flint. AT&T will relocate from its current location on the south side of town and will join Rite Aid at the two-tenant center. Vicki Gutowski, Michael Murphy and Larry Siedell of Gerdom Realty & Investment represented Rite Aid in the sublease.
ANN ARBOR, MICH. — Brixmor Property Group (NYSE: BRX) has acquired Arborland Center, a 404,000-square-foot, grocery-anchored shopping center located in Ann Arbor, for $102 million. The property is located between the University of Michigan and Eastern Michigan University at 3600 Washtenaw Ave. Kroger anchors the center, which is also home to tenants including DSW, Old Navy, Marshalls, Maurices, Nordstrom Rack, Starbucks Coffee, Ulta Beauty, Bed Bath & Beyond, Petco and Five Below. The property was previously owned by Stamford, Conn.-based AmCap Inc. and was roughly 96 percent occupied at the time of sale, according to reports by Crain’s Detroit Business. With this acquisition, Brixmor owns four assets totaling over 1 million square feet in metro Ann Arbor. The company’s stock price closed on Monday, March 6, at $22.30 per share, down from $24.04 a year ago. — Katie Sloan
SHELBY TOWNSHIP, MICH. — O.ME.R North America has entered into a 12,633-square-foot industrial lease in Shelby Township in western Michigan. The Italian-based manufacturer of railway interiors will occupy the space at 50570 Wing Drive. This is the company’s first location in the United States. Kris Pawlowski of Signature Associates represented the tenant in the lease transaction.
GRAND RAPIDS, MICH. — American Dream Home Improvement has signed a 2,300-square-foot retail lease near the Gerald R. Ford International Airport in Grand Rapids. This will be the first West Michigan location for the Downers Grove, Ill.-based exterior home repair and storm restoration company. The property is located at 3940 Broadmoor Ave. Southeast. Mary Anne Wisinski-Rosely and Jason Makowski of NAI Wisinski of West Michigan arranged the lease transaction.
DETROIT — The Detroit Pistons and Henry Ford Health System have unveiled plans to build a training, rehabilitation and sports medicine complex in the New Center area of Detroit. The Henry Ford-Detroit Pistons Performance Center will house a new training facility and corporate headquarters for the NBA franchise; include a comprehensive sports medicine, treatment and rehabilitation facility managed by the health system; and incorporate public spaces available for community relations activation, networking receptions and team-hosted events. The facility will cost $50 million to $65 million, according to the Detroit Free Press. The center will be built on a parcel owned by Henry Ford between Wayne State University and Henry Ford Hospital, approximately two miles north of the new Little Caesars Arena where the Pistons will begin playing games next season. Construction is expected to begin this summer. As part of the agreement, Henry Ford will become the official health care provider for the Pistons beginning with the 2017-18 NBA season, and will have naming rights for the new performance center complex. In addition to the center’s sports, training and medical facilities, the privately financed facility will include corporate offices for the Pistons and plans, specifications and estimates staff, as well …
ANN ARBOR, MICH. — Signature Associates has arranged the sale of four office buildings in Ann Arbor Commerce Park. The sales price was not disclosed. The buildings total 115,104 square feet and are located at 4220 Varsity Drive, 1050 Highland Drive, 1665 Highland Drive and 1777 Highland Drive. M.V. Ventures LLC purchased the buildings and now owns six buildings within the park. Jay Chavey and Bruce Morrison of Signature Associates represented the seller, CSFB 2005-C6 Highland Industrial LLC.
FLINT, MICH. — Mid-America Real Estate Corp. has brokered the sale of Oak Brook Square in Flint for $14.2 million. The 152,073-square-foot center is located near Linden and Miller roads, across from Genesse Valley Mall. Hobby Lobby and TJ Maxx anchor the center. Other tenants include Dollar Tree, Shoe Carnival, Buffalo Wild Wings, Plato’s Closet and Sally Beauty Supply. Atlanta-based RCG Ventures purchased the center. Ben Wineman and Daniel Stern of Mid-America brokered the transaction on behalf of the seller, Ramco-Gershenson Properties Trust.
DETROIT — The Griswold, a $24 million apartment community, has opened in Detroit. The apartments, which sit atop a 10-story parking garage and retail structure, occupy floors 11 through 15 and consist of 80 one-, two- and three-bedroom units. The apartment homes feature open floor plans with nine-foot ceilings, floor-to-ceiling windows, granite countertops, stainless steel appliances and concrete floors. Apartments range from 750 to 1,600 square feet with rental rates from $1,030 to $3,500. The community is located at 1117 Griswold St. The Griswold is Detroit’s first new residential downtown construction project in 25 years, according to Fourmidable, which is managing the property. Roxbury Group was the developer, Walbridge was the construction manager and Kraemer Design Group served as the architect.
FERNDALE, MICH. — Detroit City Skateboards has signed a 1,000-square-foot retail lease in Ferndale in the northern Detroit metro area. The local skateboard shop, which sells skate accessories and apparel, will be located off of 9 Mile Road. Ben Hubert of Colliers International arranged the lease transaction. Hubert also recently leased the space next door to Maestros Dog Haus on behalf of the landlord.