Michigan

Detroit Lions Unveil Plans for $100M in Renovations to Ford Field

by Kristin Harlow February 20, 2017

DETROIT — The Detroit Lions have unveiled plans for the Ford Family to invest approximately $100 million into Ford Field for new video boards and several other renovations to be completed in time for the 2017 season. Upgrades will be made to the sound system, The Corner Lounge, stadium suites and premium club areas. In each end zone, the Daktronics main video displays will be more than twice the size of the current displays and measure 39.5 feet high by 152 feet wide. Four additional displays, measuring 13 feet high by 59 feet wide, can be used individually or coordinated with the main displays for one continuous 270-foot presentation to show live video, instant replays, statistics, graphics, animations and sponsorship messages. In the coming months, Meyer Sound will install the full LEO Family Linear Sound Reinforcement System to replace the original stadium sound system in its entirety. It will feature 182 separate loudspeakers. In addition, the Lions consulted with Rossetti, the original architectural firm for Ford Field, to identify opportunities to renovate areas of the stadium to enhance and modernize the guest experience as well as better utilize the existing space. A total of 210,000 square feet of suites, lounge …

February 20, 2017

Bernard Financial Arranges $21.1M Loan for Refinancing of Office Property in Troy, Michigan

by Kristin Harlow February 17, 2017

TROY, MICH. — Bernard Financial Group has arranged a $21.1 million loan for the refinancing of an office property in Troy, a northern suburb of Detroit. The multi-tenant complex consists of 149,976 square feet. Dennis Bernard and Kevin Kovachevich of Bernard Financial originated the loan for the borrower, Liberty Investments LLC. A CMBS firm provided the loan.

February 17, 2017

Michigan Midwest Office

GHD Services Signs 24,480 SF Office Lease in Farmington Hills, Michigan

by Kristin Harlow February 17, 2017

FARMINGTON HILLS, MICH. — GHD Services has signed a 24,480-square-foot office lease in Farmington Hills, west of Southfield. The company provides engineering, architecture, environmental and construction services for the water, energy, environment, property and transportation sectors. GHD will be located at 26850 Haggerty Road. John Fricke and Greg Hudas of Signature Associates represented the landlord, Michigan Five Office LLC, in the lease transaction. CBRE represented the tenant.

February 17, 2017

Michigan Midwest Retail

PREIT to Replace Sears With Von Maur at Woodland Mall in Grand Rapids, Michigan

by Kristin Harlow February 16, 2017

GRAND RAPIDS, MICH. — PREIT has unveiled plans to replace the Sears set to close in Woodland Mall with a 90,000-square-foot Von Maur store. This will be the first location for Von Maur in the Grand Rapids area. The portion of the mall to be redeveloped, consisting of Von Maur and additional retail and restaurant space, will open in 2019. Sears currently occupies 313,000 square feet and will close in March. Other tenants at the mall include Apple, Lush, North Face and Pottery Barn. Woodland Mall’s proximity to the high-income communities of Ada, Cascade and East Grand Rapids drives strong retailer and shopper demand.

February 16, 2017

Michigan Midwest Office

Signature Associates Arranges Sale of 39,598 SF Office Building in Muskegon, Michigan

by Kristin Harlow February 14, 2017

MUSKEGON, MICH. — Signature Associates has arranged the sale of a 39,598-square-foot office building in Muskegon in western Michigan. The sales price was not disclosed. The property is located at 2389 Laketon Ave. Camcar Plastics, a full-service plastic injection molding company, purchased the building. Jim Olsen of Signature Associates represented the seller, Orchard View Public Schools.

February 14, 2017

Michigan Midwest

Founder of Little Caesars Pizza, Owner of Detroit Tigers and Detroit Red Wings, Dies at Age 87

by Kristin Harlow February 13, 2017

DETROIT — Metro Detroiters are mourning the loss of a legend in the world of business and sports. Mike Ilitch, founder of Little Caesars Pizza, owner of the Detroit Tigers and Detroit Red Wings and chairman of Ilitch Holdings, died Friday, Feb. 10 at a local hospital. He was 87. Ilitch was not only known for his outstanding business acumen, but also his passion for all things Detroit. Thanks to a $40 million gift from he and his wife Marian, Wayne State University broke ground in July 2016 on the Mike Ilitch School of Business, a new academic building on the public university’s Detroit campus. It was the largest gift in the school’s history. “There is an initial desire to say that Mike Illitch’s greatest accomplishment has to surround real estate. He was a brilliant investor and ahead of his time in terms of his holdings. His greatest contribution to the City was his steadfast devotion to it. He invested when it seemed very few still did and his actions and that of his family and organization have served as a beacon of hope for the city. He worked tirelessly showing the world that Detroit belonged among the elite as a world-class city. The legacy …

February 13, 2017

Michigan Midwest

Colliers Arranges Sale of 41.5-Acre Land Site in Rockwood, Michigan

by Kristin Harlow February 9, 2017

ROCKWOOD, MICH. — Colliers International has arranged the sale of 41.5 acres of land located at 21702 Huron River Drive in Rockwood, approximately 25 miles south of Detroit. At one time an industrial and manufacturing facility stood on the site. The facility closed in 2001 and remained vacant for several years before being demolished. Infinity Homes & Co., a construction company based out of Southeast Michigan, purchased the property and has plans to build residential homes on the site. Brent Beshears of Colliers International represented the seller, Henry Acquisitions Inc., in the transaction.

February 9, 2017

Michigan Midwest Office

Signature Associates Arranges Sale of 489,000 SF Office Building in Auburn Hills, Michigan

by Kristin Harlow February 7, 2017

AUBURN HILLS, MICH. — Signature Associates has arranged the sale of a 489,000-square-foot, high-tech office building in Auburn Hills. The sales price was not disclosed, but the list price was $25.5 million. The building is located at 3000 University Drive. Bruce A. Morrison and Paul Hoge of Signature Associates represented the landlord, Shamrock Holdings Inc. The buyer was not disclosed.

February 7, 2017

Michigan Midwest Office

Microsoft to Move Technology Center to Downtown Detroit

by Kristin Harlow February 6, 2017

DETROIT — Microsoft Corp. has unveiled plans to move its Michigan Microsoft Technology Center (MTC) from Southfield to downtown Detroit in early 2018. The company will occupy more than 40,000 square feet in Bedrock’s One Campus Martius building. There are more than 40 MTCs worldwide, which bring together resources to help clients explore their products. Bedrock is the real estate arm of Dan Gilbert’s business portfolio, specializing in acquiring, leasing, financing, developing and managing commercial and residential space. Since its founding in 2011, Bedrock has located more than 160 office and retail tenants to downtown Detroit.

February 6, 2017

Industrial Michigan Midwest

Anji Logistics Signs 154,377 SF Industrial Lease for North American Headquarters in Warren, Michigan

by Kristin Harlow February 2, 2017

WARREN, MICH. — Anji Logistics USA Inc. has signed a lease for 154,377 square feet of warehouse space in Warren, north of Detroit. The former OfficeMax warehouse and distribution center is located at 13301 Stephens Road. The facility will be Anji Logistics’ first location in the United States and serve as the company’s North American headquarters. Sister company Anji-CEVA Automotive Logistics Co. is the largest third-party logistics provider in China. Jason Capitani of L. Mason Capitani CORFAC International represented Anji Logistics in the transaction.

February 2, 2017

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