Michigan

Moceri to Develop $300M Seniors Housing Community in Southeast Michigan

by John Nelson October 6, 2016

STERLING HEIGHTS, MICH. — Moceri Cos., a homebuilder based in metro Detroit, plans to develop a $300 million, master-planned community for seniors in Sterling Heights. Situated adjacent to the 27-hole Maple Lane golf course, the 807-unit development, known as Verandas, will feature a mix of townhouses, condominiums and apartments targeting adults age 55 and above. “Verandas will exceed the expectations of the active adult lifestyle in the entire region,” said Dominic Moceri, vice president of Moceri Management Group. Verandas will include a 30,000-square-foot event center featuring dining, fitness, indoor and outdoor pools and spas, retail space and other venues accessible to the public, as well as private spaces for residents only. “We are thrilled to have the Verandas development coming to our city, as it represents Sterling Heights’ commitment to exploring innovative housing options to meet the desires of our community,” said Sterling Heights Mayor Michael Taylor. “This development allows our city to attract new residents, as well as provide a new housing opportunity for those currently living in Sterling Heights who no longer want to reside in a traditional single-family home.” Verandas will include the 160-unit Blossom Lane, featuring one- and two-bedroom independent and assisted living apartments and studio …

October 6, 2016

Michigan Midwest Multifamily Student Housing

Wayne State University Selects Corvias to Execute $300M Housing Master Plan in Detroit

by Amy Works October 5, 2016

DETROIT — Wayne State University has selected Corvias to develop, construct, manage and maintain its student housing in a 40-year public-private partnership. The program will allow Wayne State to defease $102 million of existing debt and execute all facets of its 10-year master plan, which includes 842 new beds, renovating 3,100 existing beds and the construction of commercial and university spaces without issuing any new university debt. The master plan includes the development of Anthony Wayne Drive Apartments, which calls for the delivery of 400 new beds in fall 2018 and another 442 beds in fall 2019; and the demolition of the 415-bed Helen L. DeRoy Apartments by 2019, with the space being converted into open green space to enlarge the existing space on Williams Mall. Additionally, the project includes more than 18,000 square feet of retail space and 9,000 square feet for the Campus Health Center and related services.

October 5, 2016

Michigan Midwest Retail

NAI Wisinski West Michigan Arranges Sale of 2.5-Acre Site in South Haven, Michigan

by Amy Works October 3, 2016

SOUTH HAVEN, MICH. — NAI Wisinski West Michigan brokered the sale of a 2.5-acre site located at 72133 Phoenix St. in South Haven. Honor Credit Union acquired the site for an undisclosed price and plans to relocate from its current location at 749 Phillips St. to the property. Slated for completion in 2017, the new property will feature drive-thru lanes, a drive-up ATM and a night drop. Dane Davis of NAI Wisinski represented the seller, Locker & Locker Properties, while Doug Clark of The Case Group represented the buyer in the transaction.

October 3, 2016

Michigan Midwest Office Retail

Midwest Realty Group Brokers Two Leases Totaling 6,049 SF in Michigan

by Amy Works September 30, 2016

ALPINE TOWNSHIP AND PORTAGE, MICH. — Midwest Realty Group has arranged two leases totaling 6,049 square feet of retail space in Alpine Township and Portage. In the first deal, Great Lakes Outpost LLC leased 3,862 square feet of retail space at 4147 Alpine Ave. in Alpine Township. This location will be the online retailer’s first brick-and-mortar store. Midwest Realty Group represented the tenant and landlord, Alpine Valley LLC in the transaction. In the second deal, Reverse Mortgage Funding LLC leased 2,187 square feet of office space at 3275 Cooley Court in Portage. Midwest Realty Group represented the tenant and landlord, Cooley Park I LLC, in the transaction.

September 30, 2016

Michigan Midwest Office

JLL Opens New Office in Downtown Grand Rapids

by Amy Works September 28, 2016

GRAND RAPIDS, MICH. — JLL has opened a new brokerage office located at 15 Ionia Ave. in downtown Grand Rapids to broaden its existing presence in Michigan. Jeffrey Karger and Robert Horn will lead the new office. Karger most recently served as senior advisor/director of office services for CWD Real Estate Investments, and Horn has completed more than 11 million square feet of industrial transactions during his career. JLL employs more than 800 professionals in Michigan, with dedicated teams in Detroit and Ann Arbor, Mich., specializing in project management, corporate solutions and public institutions.

September 28, 2016

Michigan Midwest Retail

Mid-America Secures Three Leases in Michigan

by Haisten Willis September 27, 2016

WEST BLOOMFIELD, HOLLAND AND TROY, MICH. — Mid-America Real Estate – Michigan Inc. has secured three new retail leases in Michigan. The leases include: T-Mobile signed a lease for 2,774 square feet at Westgate Shopping Center located at the northwest corner of Orchard Lake Road and Northwestern Highway in West Bloomfield. Mid-America’s Adam Goodman represented the tenant. Potbelly Sandwich Shop signed a lease for 2,656 square feet at The Shops at Westshore located at 12359 James St. in Holland. The tenant will join JCPenney, Younkers and Dunham Sports. Mid-America’s Brad Rosenberg and Adam Goodman represented the tenant. J-Bees signed a lease for 2,400 square feet at Oakland Mall in Troy. The retailer will join Macy’s, JCPenney and Sears at the 499,212-square-foot mall located at 412 W. Fourteen Mile Road. Mid-America’s Brad Rosenberg and Aleyciuss Al-Ali represented the tenant in the transaction.

September 27, 2016

Michigan Midwest Restaurant Retail

Mid-America Negotiates $19.8M Sale of Livonia Plaza in Metro Detroit

by Haisten Willis September 26, 2016

LIVONIA, MICH. — Mid-America Real Estate Corp. has arranged the $19.8 million sale of Livonia Plaza, a 137,391-square-foot shopping center located in the Detroit suburb of Livonia. Kroger anchors the center, which is also home to TJ Maxx, Red Wing Shoes, Sally Beauty Supply and Subway. Ben Wineman and Daniel Stern of Mid-America represented the seller, Ramco-Gershenson Properties Trust, in the sale of the property to Phillips Edison Grocery Center REIT II.

September 26, 2016

Michigan Midwest Retail

Friedman Arranges 7,206 SF Retail Lease in Metro Detroit

by Haisten Willis September 23, 2016

LIVONIA, MICH. — Friedman Integrated Real Estate Solutions has leased 7,206 square feet of retail space at Laurel Office Park III, located at 17197 N. Laurel Park Drive in Livonia, Mich. The landlord, LOP III Holding Co. LLC – FMC, leased the space to Blazent Inc. Blazent, a data quality management company currently located in Novi, will move its headquarters to the Laurel Office Park location next year. David Friedman and Amit Hingorani of Friedman represented the landlord in the transaction.

September 23, 2016

Michigan Midwest Restaurant Retail

Mid-America Brokers $3.6M Sale of Macomb Mall Shops Near Detroit

by Haisten Willis September 22, 2016

ROSEVILLE, MICH. — Mid-America Real Estate Corp.’s Investment Sales team has brokered the sale of the Macomb Mall Shops in Roseville, Mich. A private investor purchased the 8,074-square-foot center for $3.6 million. Macomb Mall Shops is located at the northwest corner of Gratiot Avenue and Masonic Boulevard in Roseville. The center’s tenant list includes Potbelly’s, AT&T and Chipotle. Mid-America’s Carly Gallagher, Ben Wineman and Richard Kerwin represented the seller, Bloomfield Hills-based Lormax Stern Development Co., in the transaction.

September 22, 2016

Michigan Midwest Restaurant Retail

Gerdom Realty and Investment Negotiates Sale of Two Net Leased Restaurants in Michigan

by Haisten Willis September 22, 2016

CANTON AND SAGINAW, MICH. — Tjader Gerdom and Larry Siedell of Gerdom Realty and Investment represented both the buyer and seller in the sale of two net leased restaurants, Hayden’s Grill and Bar in Canton and Harvey’s Grill and Bar in Saginaw. Both locations are freestanding casual dining restaurants spanning 7,000 square feet. A private investor from the Detroit area bought the restaurants as a package deal.

September 22, 2016

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