Michigan

uncommon-charlottesville-virginia

CHICAGO — CA Student Living, the student housing investment and development division of Chicago-based CA Ventures, has completed eight student housing communities comprising nearly 4,000 beds across the U.S. Located in eight states, the properties are about 95 percent occupied and represent nearly 10 percent of the 47,700 off-campus student housing beds slated to deliver nationwide in 2016, according to the developer. Valued at more than $460 million, the new communities boost the size of CA Student Living’s portfolio to $1.5 billion. All offer fully furnished apartments with in-unit laundry and a 1:1 bed-to-bath ratio in most units. The newly delivered communities include: Uncommon Athens — Uncommon Athens is a five-story building located at 165 E. Dougherty St in Athens, Ga. It is within walking distance to both downtown Athens and the University of Georgia. The property’s 210 beds include a mix of one-, two- and four-bedroom floor plans, and the development contains 10,600 square feet of street-level retail space. Indoor amenities include a 24-hour fitness center, golf simulator, business center, study lounge, group meeting space, club room and coffee bar. Uncommon Charlottesville — Uncommon Charlottesville, a six-story building located at 1000 W. Main St. in Charlottesville, Va., is within …

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1515-east-us-223-adrian-michigan

ADRIAN, MICH. — Reichle Klein Group has brokered the $3.95 million sale of a multi-tenant retail building in Adrian. Reichle Klein Group’s Duke Wheeler represented the seller, Blitz Hutton One LLC. The 13,000-square-foot retail center, which is 100 percent occupied, is located at 1515 E. U.S. Route 223. Wheeler has been involved with the leasing of this asset since 2008.

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GROSSE ILE, MICH. — Friedman Integrated Real Estate Solutions has arranged the sale of Elbamar Apartments, a 24-unit multifamily building located at 10033-45 Groh Road in Grosse Ile, Mich., a suburb of Detroit. I & L Properties LLC acquired the property from seller Phillip Byers. Greg Hornby of Friedman represented both the seller and the purchaser in the transaction.

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DETROIT — Shinola, a wristwatch and bicycle manufacturer, has teamed up with Bedrock Real Estate Services LLC to develop the Shinola Hotel, a 130-room hotel located at 1400 Woodward Ave. in downtown Detroit. The new hotel is set to open in the fall of 2018. Detroit-based Kraemer Design Group is the architect of record for the Shinola Hotel, and New York-based NoHo Hospitality Group will handle the hotel’s food and beverage program. The hotel will feature Detroit-inspired design from Gachot Studios. Detroit-based Bedrock is a full-service commercial real estate firm owned by Dan Gilbert, founder of Quicken Loans and owner of the Cleveland Cavaliers. Bedrock owns over 90 properties totaling more than 15 million square feet.

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MADISON HEIGHTS, MICH. — MFP Seals has signed a long-term lease for an industrial building located at 900 E. Whitcomb Ave. in Madison Heights. The company will relocate its manufacturing and administrative facilities from Troy, Mich., to the new 38,776-square-foot building this fall. MFP Seals is a division of Martin Fluid Power, a wholesale distribution manufacturer of sealing devices. Garry Rogers of L. Mason Capitani CORFAC International represented the tenant in the lease transaction.

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seven-mile-crossing-ii-livonia-mi

LIVONIA, MICH. — Friedman Integrated Real Estate Solutions has brokered the lease of 7,680 square feet of office space at Seven Mile Crossing II, located at 38701 Seven Mile in Livonia. Trinity Health – Michigan leased the space from Universal Properties 3. Based in Livonia, Trinity Health – Michigan is a multi-institutional Catholic health care delivery system. Steven Eisenshtadt and Todd Hawley of Friedman represented the landlord in the deal.

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532-ottawa-ave-nw-grand-rapids-mi

GRAND RAPIDS, MICH. — NAI Wisinski of West Michigan has arranged the sale of a vacant 6,000-square-foot building, located at 532 Ottawa Ave. NW in Grand Rapids’ North Monroe District. Tom Korest and Peter Mason sold the property to Promotional Impact/Green Giftz for an undisclosed price. The buyer is currently renovating the space and plans to move into the location by the end of the year. Mary Anne Wisinski-Rosely and Jason Makowski of NAI Wisinski of West Michigan represented the sellers, while Joe Rizqallah of Signature Associates represented the buyer, business owner Karen Scarpino, in the transaction.

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CLAWSON, MICH. — Friedman Integrated Real Estate Solutions has arranged the acquisition of an industrial building located at 1303 Anderson Road in Clawson. Stelkic Industrial LLC sold the 13,050-square-foot property to Electric Blue LCC for an undisclosed price. Electric Blue is the holding company for Detroit Tuned, which will move into the building later this year. Detroit Tuned is currently located in Clinton Township, Mich. The company specializes in selling, installing and developing aftermarket and original equipment manufacturer (OEM) parts for Mini Coopers. Josh Miller of Friedman represented the buyer in the transaction.

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SAN CLEMENTE, CALIF. — Pillar has arranged a $172 million, fixed-rate loan for the acquisition of 11 manufactured home communities. The portfolio consists of 10 properties located in Michigan and one property located in Alabama. The 10 Michigan-based communities include a total of 5,352 sites with varying amenities and occupancy rates. All of the Michigan properties feature clubhouses/leasing offices and many offer swimming pools and fitness centers. Eight of the Michigan-based properties are located within 30 to 60 miles of Detroit. Arthur Tuverson of San Clemente-based Pillar, along with Yale Capital Advisors, arranged the Fannie Mae financing, which features a 10-year term.

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