ROMULUS, MICH. — Colliers International has brokered the sale of an industrial property located at 8111 Middlebelt Road in Romulus. PackSpec, a custom packaging company, purchased the 175,280-square-foot property for an undisclosed price. The buyer plans to use the property to consolidate its Warren and Ecorse, Mich., facilities, while expanding its overall facility size. Gary Glotzhober and Jim Roberts of Colliers represented the buyer in the transaction. The name of the seller was not released.
DETROIT — Friedman Integrated Real Estate Solutions has brokered the lease of 9,550 square feet of office space in Detroit. Creative Breakthroughs, an IT advisory and network security services firm, will occupy the space, which is located at 1260 Library St. Steven Eisenshtadt and Josh Miller of Friedman represented the landlord, Cork Tusk Development, in the transaction.
WARREN, MICH. — L. Mason Capitani Inc. CORFAC has brokered the sale of an industrial property located at 27450 Gloede Drive in Warren. Division 6 Fabrication and Installation acquired the 24,000-square-foot property for an undisclosed price. The buyer plans to use the facility to expand its company needs. Division 6 services the medical, educational, governmental and corporate industries with carpentry and millwork. Andrew Greiner and Jason Capitani of L. Mason Capitani represented the undisclosed seller in the transaction.
WESTLAND, MICH. — Love Funding has secured $9.1 million in refinancing for Westhaven Manor, a 144-unit, age-restricted apartment community in Westland, a western suburb of Detroit. Love Funding secured the loan through the U.S. Department of Housing and Urban Development’s 223(f) loan insurance program. Proceeds from the loan will be used to upgrade the property with improvements and fund a replacement reserve. Built in 1986, the property is restricted to residents 62 years of age or older. Bruce Gerhart of Love Funding arranged the financing for the undisclosed borrower.
FLINT, MICH. — Bernard Financial Group has arranged a $2.8 million loan for Carriage House Apartments, a 120-unit multifamily complex located in Flint. Carriage House Limited Partnership was the borrower in the transaction. Dennis Bernard and Kevin Kovachevich of Bernard Financial originated the loan.
CLINTON TOWNSHIP, MICH. — Signature Associates has negotiated the sale of 20,660 square feet of industrial space located at 21481 Carlo Drive in Clinton Township, northeast of Detroit. The buyer in the transaction was Carlo Investments LLC. Ben Wilkiemeyer and Paul Saad of Signature represented the seller, M + L Industrial Properties. Signature Associates is an independently owned and operated member of the Cushman & Wakefield Alliance.
DEARBORN, MICH. — Savills Studley has been chosen to market the sale of the Royal Dearborn hotel and convention center in Dearborn. The 773-room, 854,000-square-foot hotel, located on 32 acres at 600 Town Center Drive, is across the street from the world headquarters of Ford Motor Co. The Royal Dearborn is the second largest hotel in Michigan. The hotel features 55,602 square feet of meeting and exhibition space comprised of a 17,000-square-foot grand ballroom, a rotunda and numerous meeting and breakout rooms. The hotel also offers two food and beverage outlets, an indoor swimming pool and fitness center, business center, gift shop and expansive outdoor parking. “There are numerous repositioning options for the property, including splitting the asset into two smaller hotels, or even reducing the size of the hotel component by converting the top floors to residential use and transforming parts of the ground-level space into retail,” says Marc Magazine, executive managing director of Savills Studley’s U.S. Capital Markets Hotel Group.
TROY, MICH. — L. Mason Capitani CORFAC International has arranged three new office leases in Troy. L. Mason represented the landlord in two transactions including the lease of 4,332 square feet to Padgett Business Services at 1120 E. Long Lake Road and 6,576 square feet to Liberty Union Life Assurance Company at 560 Kirts Boulevard. L. Mason also represented Car.com in its 5,449-square-foot lease renewal at 888 W. Big Beaver Road.
DETROIT — Meijer has opened a new 200,000-square-foot supercenter located at the intersection of Grand River and McNichols avenues on Detroit’s northwest side. This is the second Meijer store to open in the city. The supercenter was built on the site of the former Redford High School campus. This new location is the latest of 11 new stores the retailer plans to open throughout the Midwest this year. This location offers more than 600 types of fresh produce and a full-service, drive-thru pharmacy. Detroit’s first Meijer store, which opened in July 2013, is located at Woodward Avenue and Eight Mile Road in the Gateway Marketplace.
ROMULUS, MICH. — Signature Associates has brokered the lease of 18,300 square feet of industrial space located at 28420-28448 Highland Road in Romulus. Brad Viergever and Larry Kelly of Signature Associates represented the tenant, Morse Moving & Storage Inc., in the transaction. Signature Associates is an independently owned and operated company that is a member of the Cushman & Wakefield Alliance.