NOVI, MICH. — Novi-based The Kroger Co. of Michigan will invest $180 million in Michigan’s grocery sector during 2016 by adding three Kroger Marketplaces stores and six new fuel centers. The grocer will also increase its ClickList online shopping service to 22 locations and remodel 11 existing stores. The new stores will be located at 12 Mile Road and Stephenson Highway in Royal Oak, M-59 and Elizabeth Lake Road in White Lake Township and at 26 Mile Road and Van Dyke Avenue in Shelby Township. The Kroger Co. of Michigan includes 129 Kroger stores, 69 fuel centers and 103 pharmacies. Kroger Marketplace stores average 110,000 square feet and are multi-department stores that offer full-service grocery, pharmacy, outdoor living products, electronics, home goods and toys.
ST. JOSEPH, MICH. — NorthPoint Capital Funding has arranged the $7 million refinancing of The Whitcomb Senior Living Community, a 134-unit community in St. Joseph, located in the southwest corner of the state along the banks of Lake Michigan. Originally constructed as a hotel in 1928, the property was converted to seniors housing in 1973. NorthPoint Capital Funding is a subsidiary of NorthPoint Capital Group, a lender based in Chicago.
YPSILANTI, MICH. — Cohen Financial has arranged a $4.5 million non-recourse refinancing loan for Blue Heron Pointe Apartments. The 64-unit community is located at 6244 Trumpeter Lane in Ypsilanti, approximately 40 miles west of Detroit. The Class A property was built in 2014. Cathy Bronkema of Cohen Financial secured the 25-year, fixed-rate loan with a life insurance company. Unit amenities at Blue Heron Pointe Apartments include one-car garages, kitchen appliances, granite countertops, faux wood floors and washers and dryers.
GRAND RAPIDS, MICH. — NAI Wisinski of West Michigan has arranged two retail leases totaling 3,280 square feet in Grand Rapids. In the first deal, Jamaican Dave’s will be relocating to a 1,980-square-foot building at 530 S. Division Ave. The space is currently undergoing a renovation, and the restaurant is expected to open by late April. In the second transaction, Aureus Tree Financial Services is relocating from Leonard Street to a former Modern Nails store at 4057 Plainfield Ave. The 1,300-square-foot building is under renovation. Aureus Tree Financial Services has an anticipated move-in date of May 1. Bill Tyson of NAI Wisinski of West Michigan brokered both transactions.
GRAND RAPIDS, MICH. — Lancaster Pollard has provided an $11 million, HUD-insured refinancing for Vista Springs Northview, an 88-unit assisted living community in Grand Rapids. The loan refinanced the first mortgage, which was a variable-rate loan, as well as other subordinate debt used to expand the facility in 2014. In addition to the refinancing, the loan will provide approximately $730,000 for facility repairs. Brendan Healy led the transaction for Lancaster Pollard.
KENTWOOD, MICH. — NAI Wisinski of West Michigan has negotiated the sale of a 9,000-square-foot building in Kentwood, approximately 10 miles southeast of Grand Rapids, for an undisclosed price. Mattson Financial Services LLC purchased the property from Chulam Malin. Mattson Financial Services will be relocating from its current facility at 1507 Plainfield Ave. in Grand Rapids following the renovation of the building, to be completed this spring. Mattson Financial Services specializes in financial planning, investment management and tax planning. Cameron Timmer of NAI Wisinski represented Mattson Financial Services. Jason Makowski and Mary Anne Wisinski of NAI Wisinski represented the seller.
CLAWSON, MICH. — Mid-America Real Estate Corp. has arranged the sale of Clawson Center, a 130,424-square-foot grocery-anchored shopping center located in the northern Detroit suburb of Clawson, for an undisclosed price. Tenants at the center include Aldi, Dollar Tree, O’Reilly Auto Parts, Rite Aid and Staples. The shopping center was 80 percent occupied at the time of sale. Ben Wineman and Daniel Stern of Mid-America represented the seller, Kimco Realty, in the transaction. Viking Partners was the buyer.
PORT HURON, MICH. — L. Mason Capitani CORFAC International has arranged a 140,000-square-foot industrial lease in Port Huron, approximately 60 miles northeast of Detroit. Rex Performance Products, a manufacturer of polyethylene foam, has leased the building at 2100 Dove St. Jason Capitani and Joe DePonio of L. Mason Capitani represented both parties in the transaction.
LIVONIA, MICH. — Friedman Integrated Real Estate Solutions has arranged the sale of a 34,965-square-foot retail center in Livonia, approximately 20 miles northwest of Detroit, for an undisclosed price. CRE REO LLC – Gearing Capital Partners sold L.A. Plaza, to Cantor Real Estate Income and Opportunity Fund II LLC through Auction.com. The single-story, L-shaped building is located at 36083-36175 Plymouth Road. The shopping center includes tenants such as Lily Nails, The Hair Doctor, Cozy Corner Café, Quizno’s Subs, The Jewelry Factory, KDI and The Bike Tri Shop. The center is 60 percent occupied and is situated on 4.4 acres. Rich Deptula and Josh Miller Friedman Integrated Real Estate Solutions represented both parties in the transaction.
LIVONIA, MICH. — Schostak Brothers & Co. has formed a joint venture with Schoolcraft College to develop a 91,220-square-foot corporate headquarters for Masco Corp., which is relocating its operations to Livonia from Taylor, Mich. The building is slated for completion in the spring of 2017. The facility will be located between Six Mile Road and Seven Mile Road on the Schoolcraft College campus. Masco is a designer, manufacturer and distributer of branded home improvement and building products.