Michigan

NAI Arranges Purchase of 60,000 SF Office Property in Grand Rapids

by Christina Cannon January 19, 2016

GRAND RAPIDS, MICH. — NAI Wisinski of West Michigan represented Applied Imaging in the acquisition of a 60,000-square-foot office building in Grand Rapids. Applied Imaging will move its headquarters to the facility located at 5555 Glenwood Hills Parkway SE. Applied Imaging sells and services copiers, printers, document storage and retrieval products and provides network services and software solutions. The company currently occupies 25,000 square feet at 5282 E. Paris Ave. SE. Applied Imaging has occupied its current facility since 1999 and expects to move to the new location this summer. Stu Kingma and Jim Badaluco of NAI Wisinski of West Michigan represented Applied Imaging in the transaction. The new location will include a customer loyalty center, showrooms and service dispatch.

January 19, 2016

Michigan Midwest Multifamily Student Housing

EdR to Build $90M Off-Campus Student Housing Near Michigan State

by Christina Cannon January 12, 2016

EAST LANSING, MICH. — EdR will build an off-campus student housing development in East Lansing under a joint-venture agreement with RISE: A Real Estate Company (formerly Ambling University Development Group). EdR will develop, construct and manage a mixed-use student community located within walking distance of the Michigan State University campus. EdR will own 90 percent of the $90 million development, serve as managing partner, and be responsible for leasing and management of the community. Construction began recently on the unnamed wrap-style project of 824 beds in a mix of one-, two- and four-bedroom apartments. The development will also feature more than 4,000 square feet of retail space. Apartments will include private bedrooms and baths, washers and dryers, furnishings and granite countertops. Community amenities will include a covered parking garage, computer center, study room, fitness center, and two courtyards with grilling stations, televisions and volleyball courts. The property is scheduled to open in the summer of 2017.

January 12, 2016

Michigan Midwest Retail

Namdar Realty Group Acquires 160,500 SF Shopping Center Near Ann Arbor

by Christina Cannon January 11, 2016

YPSILANTI, MICH. — Namdar Realty Group has acquired a 160,500-square-foot retail center in Ypsilanti, approximately eight miles southeast of Ann Arbor, for an undisclosed price. Gault Village Marketplace is a one-story shopping center that includes tenants such as Family Dollar, Advance America, Measurement Incorporated, New Image Beauty, China One and Gault Village Cleaners. Namdar plans on upgrading the property and targeting new tenants. Gault Village Marketplace is located at 1005-1075 Emerick St. The property is situated on 13.2 acres and includes 1,200 parking spaces. Joel J. Gorjian of Namdar completed the acquisition on behalf of the company. The seller in the transaction was a private investor.

January 11, 2016

Michigan Midwest Retail

Colliers International Arranges 1,200 SF Retail Lease in Jackson, Michigan

by Christina Cannon December 23, 2015

JACKSON, MICH. — Colliers International has arranged a 1,200-square-foot retail lease in Jackson, approximately 35 miles west of Ann Arbor. Jackson Properties Inc. is leasing the space to HoneyBaked Ham. The property is located at 1083 N. Winser St. and will be the first HoneyBaked Ham location in Jackson. Paul Lichtenberg and Morry Levin of Colliers International represented the landlord in the transaction.

December 23, 2015

Michigan Midwest Office

Signature Associates Brokers Sale of 3,336 SF Office Building in Grand Rapids

by Christina Cannon December 22, 2015

GRAND RAPIDS, MICH — Signature Associates has brokered the sale of a 3,336-square-foot office building in Grand Rapids for an undisclosed price. Tadow Inc. sold the property to 1168 Lonia LLC. Jeffery Tucker of Signature Associates represented the seller in the transaction. Space within the office building, located at 1168 Lonia Ave. NW, is still available for lease.

December 22, 2015

Michigan Midwest Office

Colliers Completes 4,000 SF Office Lease in Historic Downtown Ann Arbor Building

by Christina Cannon December 21, 2015

ANN ARBOR, MICH. — Colliers International has completed a lease in a historic building in downtown Ann Arbor. Danlaw Inc., an engineering firm, will occupy two floors of the building, which will total 4,000 square feet. The property, owned by Dr. Reza Rahmani, is located at 213 S. Main St. and is currently undergoing renovations. Brendan Cavender and Jim Chaconas of Colliers were the sole brokers in the deal.

December 21, 2015

Industrial Michigan Midwest

Friedman Brokers Sale of 26,202 SF Industrial Building North of Detroit

by Christina Cannon December 17, 2015

PONTIAC, MICH. — Friedman Integrated Real Estate Solutions has brokered the sale of a 26,202-square-foot industrial building in Pontiac, approximately 30 miles north of Detroit. TSLLC Liquidation Co. LLC sold the property to Knight Properties Group LLC for an undisclosed price. The building is located at 1450 E. Highwood Blvd. Larry Schultz of Friedman represented the buyer in the transaction and Mike Koenigbauer of Friedman represented the seller.

December 17, 2015

Michigan Midwest Multifamily Seniors Housing

American House to Add Memory Care Units to Two Seniors Housing Communities in Michigan

by Christina Cannon December 16, 2015

ROSEVILLE AND ROCHESTER HILLS, MICH. — American House Senior Living Communities will add 40 units of memory care to its communities in the Detroit suburbs of Roseville and Rochester Hills. Virtus Real Estate Capital, a Texas-based private equity firm, arranged a loan through Talmer Bank and Trust to fund the expansion by American House, a Michigan-based operator. Each of the two new communities will include 40 units of licensed memory care and will share a campus with existing American House communities. REDICO is developing both projects. The Roseville community is set to open in September 2016, while the Rochester Hills community is scheduled to open in late 2016.

December 16, 2015

Michigan Midwest Office

Friedman Brokers Sale of 105,717 SF Medical Office Building North of Detroit

by Christina Cannon December 15, 2015

CLARKSTON, MICH. — Friedman Integrated Real Estate Solutions has brokered the sale of a 105,717-square-foot office building in Clarkston, approximately 40 miles north of Detroit, for $6.6 million. Mid-Oakland Medical Center is located at 6770 Dixie Highway and was purchased by Esox Exploration LLC. The property is a three-story, Class B building that features an on-site pharmacy. The facility was built in 1995. Tenants include McLaren Health Care Corp., DaVita Healthcare Partners Inc. and Trinity Health. Rich Deptula of Friedman represented the seller, a CMBS special servicer, in the transaction. Friedman also represented the buyer in the transaction.

December 15, 2015

Michigan Midwest Office

40-Story Cadillac Tower in Motor City Undergoes Renovation Totaling More Than $3.5M

by Christina Cannon December 14, 2015

DETROIT — Cadillac Tower in Detroit is undergoing more than $3.5 million in extensive renovations. Huntington Construction Co. is managing the interior and exterior renovations to the 350,000-square-foot office building. The 40-story asset is located a 65 Cadillac Square on Campus Martius Park. Construction began in May 2015 and is expected to be complete in January 2016. Exterior renovations include new granite, an LED-lit canopy along Cadillac Square and first-floor façade renovations. Interior renovations include an updated entryway, new lobby directories, new tile flooring and wall finishes, new lighting and HVAC system for the lobby, plus a two-story feature wall. Tenants include Detroit Public Lighting Authority, Travelers Aid Society, Rex Worldwide, Midwest Careers Institute and the Mannik & Smith Group, an engineering and environmental consulting firm. Future plans for the building include a potential second-floor restaurant and renovation of the upper floors, common areas and restrooms. Neumann/Smith Architecture is serving as project architect. New York-based Moon Beam Capital and Capital Alliance Investments own the property, and Southfield, Mich.-based Farbman Group serves as the property manager.

December 14, 2015

Newer Posts

Older Posts