Michigan

NAI Wisinski Negotiates Sale of 9,000 SF Office Building Near Grand Rapids

by Christina Cannon April 1, 2016

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.

April 1, 2016

Michigan Midwest Retail

Mid-America Arranges Sale of 130,424 SF Retail Center in Metro Detroit

by Christina Cannon March 30, 2016

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.

March 30, 2016

Industrial Michigan Midwest

L. Mason Capitani Arranges 140,000 SF Industrial Lease in Port Huron

by Christina Cannon March 28, 2016

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.

March 28, 2016

Michigan Midwest Retail

Friedman Brokers Sale of 34,965 SF Retail Center in Detroit Suburb

by Christina Cannon March 28, 2016

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.

March 28, 2016

Michigan Midwest Office

Schostak Brothers, Schoolcraft College to Develop 91,220 SF Corporate Headquarters for Masco Corp. in Michigan

by Christina Cannon March 25, 2016

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.

March 25, 2016

Loans Michigan Midwest Multifamily

Associated Bank Provides $9M Acquisition Loan for Three Manufactured Housing Communities in Michigan

by Christina Cannon March 23, 2016

CANTON, BELLEVILLE AND CARLETON, MICH. — Associated Bank has provided a $9 million acquisition loan for three manufactured housing communities in the Ann Arbor area. Zeman Homes is acquiring Wagon Wheel at 51000 Mott Road in Canton, Wagon Wheel South at 51000 Michigan Ave. in Belleville and Carleton Mobile Home Park at 12500 Jones St. in Carleton. The Wagon Wheel properties were constructed in the 1970s and have a total of 377 sites. The Carleton Mobile Home Park features 228 sites. All three properties include both single-wide and double-wide homes. Jerry Rotunno of Associated Bank originated and managed the loan transaction.

March 23, 2016

Industrial Loans Michigan Midwest

FM Capital Acquires $2.8M Loan Secured by Three Industrial Buildings

by Christina Cannon March 17, 2016

CLINTON TOWNSHIP, MICH. — FM Capital has acquired a $2.8 million non-performing loan that is secured by three K&S industrial buildings in Clinton Township, approximately 25 miles northeast of Detroit. The three facilities total 54,000 square feet and were constructed between 1989 and 2002.

March 17, 2016

Michigan Midwest Office

Friedman Arranges Sale of 109,000 SF Office Property in Detroit Suburb

by Christina Cannon March 15, 2016

LIVONIA, MICH. — Friedman Integrated Real Estate Solutions has arranged the sale of a 109,000-square-foot office building in Livonia, approximately 20 miles northwest of Detroit, for an undisclosed price. CEM Wildcat LLC c/o Miller Investment Co. sold the building, located at 31100 Plymouth Road, to D&E Ventures LLC. Steve Eisenshtadt and Phil Konopitski of Friedman Integrated Real Estate Solutions represented the seller in the transaction.

March 15, 2016

Industrial Michigan Midwest

Friedman Arranges 34,500 SF Industrial Lease in Auburn Hills, Michigan

by Christina Cannon March 14, 2016

AUBURN HILLS, MICH. — Friedman Integrated Real Estate Solutions has arranged an industrial lease in Auburn Hills, approximately 30 miles north of Detroit. Axis Technology Group, a company specializing in automotive trim and packaging, will occupy 34,500 square feet of space at 20 Corporate Drive. Charrington Estates LLC is the landlord. Bob Dabrowski of Friedman represented the tenant in the transaction.

March 14, 2016

Loans Michigan Midwest Multifamily Seniors Housing

Capital Funding Group Arranges $7M Credit Line for 273-Bed Skilled Nursing Portfolio in Michigan

by Christina Cannon March 10, 2016

FARMINGTON AND HOWELL, MICH. — Capital Finance LLC, a subsidiary of Baltimore-based Capital Funding Group (CFG), has arranged a $7 million working capital line of credit for the operator of Farmington Health Care Center in Farmington and Howell Care Center in Howell. Both towns are northwest suburbs of Detroit. The two skilled nursing facilities, which were recently acquired, total 273 beds. The credit line provides the borrowers with additional commitment capacity while they work to obtain their new provider numbers from the Centers for Medicare and Medicaid Services, according to CFG.

March 10, 2016

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