SOUTHFIELD, MICH. — Friedman Integrated Real Estate Solutions has brokered the sale of a 10,285-square-foot office building in Southfield, approximately 15 miles northwest of Detroit, for an undisclosed price. Camar Properties LLC sold the building, located at 23265 Northwestern Highway, to Alley Cat Holdings LLC, a law firm. Kevin George and Dan Verderbar of Friedman Integrated Real Estate Solutions represented both the buyer and seller in the transaction.
TROY, MICH. — Friedman Integrated Real Estate Solutions has arranged the lease of 18,049 square feet of office and warehouse space in Troy, approximately 25 miles north of Detroit. Carlex Glass America LLC will occupy the space at Oakland Office Commons, located at 1225 E. Big Beaver Road. Carlex Glass America is a global Tier 1 supplier of original equipment and replacement glass for the automakers and aftermarket industries. Stuart Frankel Development Co. is the landlord. Robert Gagniuk and Greggory Kent of Friedman represented the tenant in this transaction.
SOUTHFIELD, MICH. — Newmark Grubb Knight Frank (NGKF) has brokered the sale of an 116,389-square-foot industrial building in Southfield for $8.4 million. ElringKlinger Automotive Manufacturing Inc. purchased the facility located at 23300 Northwestern Highway from STAG Industrial. Built in 2006, the asset was formerly a Staples fulfillment warehouse. ElringKlinger will begin occupying the facility, which is situated on 10.7 acres, by the end of the first quarter of this year. Tom Oldham of NGKF represented the buyer in the transaction. The seller was undisclosed.
LAPEER, MICH. — Colliers International has arranged the lease of 6,000 square feet of restaurant space in Lapeer, approximately 60 miles north of Detroit. New China Buffet will occupy the space at 797 E. St. Lapeer Associates LLC is the landlord. Paul Lichtenberg and Morry Levin of Colliers International represented the landlord in the transaction.
TROY, MICH. — Friedman Integrated Real Estate Solutions has arranged a 62,318-square-foot office lease in Troy, approximately 25 miles north of Detroit. Midland Credit Management Inc. will occupy space in Building B of Troy Officentre. Osprey-Troy Officentre LLC owns the building located at 320 E. Big Beaver Road. Glenn DesRosiers of Friedman Integrated Real Estate Solutions represented the landlord in the transaction. Midland Credit Management is a subsidiary of Encore Capital Group, an international specialty finance company that provides debt-recovery solutions for consumers and property owners.
NOVI, MICH. — Friedman Integrated Real Estate Solutions has negotiated the sale of a 24,898-square-foot industrial property for $1.6 million. Sigma Phi Properties Inc. acquired the asset, located at 46555 Humboldt Drive Road in Novi, approximately 30 miles northwest of Detroit, from BACM 2006-2 Novi industrial LLC. The property was 100 percent occupied by three tenants at the time of sale. Rich Deptula of Friedman Integrated Real Estate Solutions represented both parties in the transaction.
GRAND RAPIDS, MICH. — NAI Wisinski of West Michigan has arranged the sale of a 10,000-square-foot office building in Grand Rapids for an undisclosed price. Refined Marketers Inc. purchased the asset, located at 5360 Cascade Road SE, from Aardema Whitelaw PLLC. The purchase was done as part of a 1031 exchange. Kurt Kunst of NAI represented the buyer in the transaction, and Scott Morgan of Colliers International represented the seller.
YPSILANTI, MICH. — KeyBank Real Estate Capital has provided an $8.5 million refinancing loan through Freddie Mac for a multifamily property in Ypsilanti, about 10 miles southeast of Ann Arbor. Fairway Trails Apartment Homes is a 231-unit, garden-style apartment complex that was constructed in 1972. Dirk Falardeau of KeyBank Real Estate Capital arranged the financing for the undisclosed borrower.
KALAMAZOO, MICH. — Friedman Integrated Real Estate Solutions has brokered the sale of a 96-unit apartment building in Kalamazoo for an undisclosed price. Ravine Apartments LLC sold the building to Ravine Apartment Limited Partnership and Princeton Enterprises. The property is located at 3510 N. Drake Road. Rick Tabbi of Friedman represented both parties in the transaction.
GRAND RAPIDS, MICH. — Entre Commercial Realty LLC, along with First Cos. Inc., has completed the development of a 65,000-square-foot industrial building in Grand Rapids. The build-to-suit facility for Holland, a Michigan-based regional transportation company that is a subsidiary of YRC Worldwide, features a 110-door truck terminal, 6,000 square feet of office space and a separate 16,000-square-foot drive-thru maintenance facility. The building is located at 10151 S. Division St. and is situated on 25 acres of land. Holland has signed a 15-year lease for the facility. First Cos. acted as the construction manager, Dixon Architecture provided architectural services and Exxel Engineering performed civil engineering services. Ken Szady of Newmark Grubb Knight Frank represented the development group and procured the funding, which WP Carey Inc. provided.