Michigan

Friedman Brokers Sale of 141,231 SF Retail Property in Saginaw, Michigan

by Christina Cannon July 13, 2016

SAGINAW, MICH. — Friedman Integrated Real Estate Solutions has brokered the sale of a 141,231-square-foot retail building in Saginaw for an undisclosed price. LNR Partners LLC sold the single-tenant building, located at 3828 Bay Road, to A.T. Frank Floor Covering via Ten-X. The store was formerly occupied by Value City and is situated on a 17.2-acre site. A.T. Frank Floor Covering will occupy the building, which will serve as the company’s seventh location. Rich Deptula of Friedman represented both parties in the transaction.

July 13, 2016

Michigan Midwest Retail

Friedman Brokers Sale of 91,264 SF Retail Center in Three Rivers, Michigan

by Christina Cannon July 12, 2016

THREE RIVERS, MICH. — Friedman Integrated Real Estate Solutions has arranged the sale of a 91,264-square-foot shopping center in Three Rivers, approximately 30 miles south of Kalamazoo. Carson Equities LLC sold the building to Stockbridge Northridge LLC for an undisclosed price. The Three Rivers Shopping Center, located at 1320 W. Broadway St., is situated on 11.7 acres and is 81 percent occupied. Tenants at the center include Peebles, Dunham’s Sports and Family Farm & Home. The property is shadow anchored by Home Depot and Meijer. Rich Deptula of Friedman represented both parties in the transaction.

July 12, 2016

Michigan Midwest Office

Friedman Arranges 8,746 SF Office Lease in Southfield, Michigan

by Christina Cannon July 8, 2016

SOUTHFIELD, MICH. — Friedman Integrated Real Estate Solutions has arranged an 8,746-square-foot lease for The Steinberg Law Firm, which will occupy space in the Onyx office building in Southfield, approximately 15 miles northwest of Detroit. The space will serve as the firm’s new headquarters, which was formerly located in Farmington Hills. Located at 29777 Telegraph Road, Onyx is a four-story building situated on 11.9 acres. The recently renovated building features amenities such as a sundry shop, café, conference facility and on-site management. Other new tenants to the building include Fras-le North America, Bogdahn Consulting, Dynamic Wealth Solutions and Szura-Delonis. David Friedman, Jordan Friedman and Greggory Kent of Friedman represented the landlord in the transaction.

July 8, 2016

Michigan Midwest Office

Oxford Cos. Buys 80,755 SF Office Property in Ann Arbor for $9.7M

by Christina Cannon July 6, 2016

ANN ARBOR, MICH. — Oxford Cos. has acquired an 80,755-square-foot office property in Ann Arbor for $9.7 million. 555 Briarwood Circle is situated on 5.8 acres and features tenants such as financial services firm Rehmann, Real Estate One and Power Engineers. Oxford plans to invest over $700,000 in the property, including improvements such as a new roof, parking lot, landscaping, signage and lighting. The seller in the transaction was undisclosed.

July 6, 2016

Loans Michigan Midwest Multifamily

Cohen Financial Arranges $11.2M Loan for 304-Unit Apartment Property in Detroit Suburb

by Christina Cannon July 5, 2016

WESTLAND, MICH. — Cohen Financial has arranged an $11.2 million CMBS loan to refinance Westland Colonial Village Apartments in Westland, approximately 25 miles west of Detroit. The Class B property, located at 8181 N. Wayne Road, was built in the 1960s and features 304 units. Cathy Bronkema of Cohen Financial placed the fixed-rate, 10-year loan with Morgan Stanley. The borrower was undisclosed.

July 5, 2016

Healthcare Michigan Midwest Office

Griffin-American Healthcare REIT Agrees to Acquire 30,000 SF Medical Office Property Near Detroit

by Christina Cannon June 29, 2016

ROCHESTER HILLS, MICH. — American Healthcare Investors and Griffin Capital Corp., the co-sponsors of Griffin-American Healthcare REIT IV Inc., have agreed to buy a medical office building in Rochester Hills for an undisclosed price. The 30,000-square-foot facility is approximately 93 percent leased to seven tenants, the largest of which is William Beaumont Hospital. An undisclosed seller disposed of the property located approximately 30 miles north of Detroit.

June 29, 2016

Loans Michigan Midwest

Berkadia Arranges $13.5M Refinance Loan for Self Storage Portfolio in Michigan

by Christina Cannon June 28, 2016

FARMINGTON HILLS AND DETROIT, MICH. — Berkadia has arranged a $13.5 million CMBS loan for EZ Storage, a portfolio of 1,108 self-storage units throughout Detroit and Farmington Hills. The 10-year, fixed-rate refinancing loan features a 30-year amortization schedule. Terry Halverson of Berkadia arranged the loan.

June 28, 2016

Industrial Michigan Midwest

Friedman Brokers Sale of 27,225 SF Industrial Building in Livonia, Michigan

by Christina Cannon June 28, 2016

LIVONIA, MICH. — Friedman Integrated Real Estate Solutions has brokered the sale of a 27,225-square-foot industrial building in Livonia, approximately 20 miles northwest of Detroit, for an undisclosed price. Silvio Properties LLC sold the building to Smith-Watkins Investments LLC. The building is located at 31520 Pamco Drive. David Friedman and Phil Konopitski of Friedman Integrated Real Estate Solutions represented the seller in the transaction.

June 28, 2016

Michigan Midwest Retail

Friedman Negotiates Sale of 45,538 SF Retail Center in Highland Township, Michigan

by Christina Cannon June 27, 2016

HIGHLAND TOWNSHIP, MICH. — Friedman Integrated Real Estate Solutions has negotiated the sale of a 45,538-square-foot retail center in Highland Township, approximately 45 miles northwest of Detroit. CGMT 2006-C5 Retail 2880 LLC sold Highland Town Center to North Michigan Hospitality Inc. through Ten-X.com. The retail center, located at 2780-2880 E. Highland Road, is situated on a 7.7-acre site. The center is comprised of three buildings and features tenants such as Rite Aid and ACE Hardware. Rich Deptula of Friedman represented both parties in the transaction.

June 27, 2016

Industrial Michigan Midwest

Colliers International Arranges 120,000 SF Industrial Lease in Detroit

by Christina Cannon June 27, 2016

DETROIT — Colliers International has arranged a 120,000-square-foot industrial lease in Detroit. Renaissance Global Logistics will occupy the space and use the facility for the distribution of auto parts. Detroit Holbrook Holdings LLC is the landlord. American Axle Manufacturing was the previous owner. Gary Glotzhober of Colliers International represented both parties in the transaction.

June 27, 2016

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