BLOOMFIELD HILLS, MICH. — Agree Realty Corp. has acquired 15 retail and restaurant properties for $42.1 million. The properties are net leased to 12 different tenants located in 10 states. The properties include a Bed Bath & Beyond, Old Navy, DressBarn, a Wendy’s restaurant, Sherwin Williams, Family Dollar, Academy Sports + Outdoors and Jo-Ann Fabric and Crafts. The transactions were completed at a weighted-average cap rate of 8 percent and have a weighted-average lease term of approximately 11 years. Bloomfield Hills, Mich.-based Agree Realty currently owns and operates a portfolio of 224 properties, located in 38 states and containing approximately 4.6 million square feet of gross leasable space.
![ProtonTherapyCenter[1]](https://rebusinessonline.com/wp-content/uploads/2015/02/ProtonTherapyCenter1.jpg "ProtonTherapyCenter[1]")
ROYAL OAK, MICH. — Construction has begun on a new Proton Therapy Center at Beaumont Hospital’s Cancer Institute in Royal Oak. Proton therapy is a newer, high-tech alternative to treating certain cancers. The $40 million project will be the first single-room proton treatment center of its kind in Michigan. Upon completion, the two-story Proton Therapy building will span 25,200-square-feet, including a basement. The first floor will house the Proton Therapy Center. The 10,000-square-foot space will include a cyclotron that produces the proton beams and a single-room treatment area. The first patients will undergo treatment at the Proton Therapy Center in the spring of 2017. The 8,000-square-foot second floor will house Beaumont Children’s Hospital’s Pediatric Oncology and Hematology program. Along with hundreds of construction jobs, the new Proton Therapy Center will create at least 30 clinical positions at Beaumont. Beaumont will develop the project in cooperation with Proton International, an Atlanta-based proton therapy development group with expertise in all phases of proton therapy development and operations.
MUSKEGON, MICH. — Quantum Real Estate Advisors Inc. has brokered the $2.5 million sale of an 11,855-square-foot, multi-tenant shopping center in Muskegon. The property is located at 3295 Henry St. The property was fully leased to AT&T, Biggby Coffee, America’s Best, Asian Express and That 70s Dough at the time of sale. The property is an outlot to a Wal-Mart Supercenter. Chad Firsel of Quantum represented the seller, a Michigan-based real estate developer and operator. Daniel Waszak of Quantum brokered the buyer, a Texas-based real estate investment and development fund.
KALAMAZOO, MICH. — NorthMarq Capital’s Chicago-based regional office has arranged $3 million in acquisition financing for Woodstone Apartments, a 99-unit multifamily property located in Kalamazoo. Sue Blumberg of NorthMarq arranged the 10-year loan, which includes a 30-year amortization schedule, for the undisclosed borrower through its affiliation with AmeriSphere Multifamily Finance, a Fannie Mae DUS lender.
ROYAL OAK, MICH. — Construction has begun on a new proton therapy center at Beaumont Hospital’s Cancer Institute in Royal Oak, a northern suburb of Detroit. Proton therapy is a newer, high-tech alternative to treating certain types of cancer. The $40 million project will be the first single-room proton treatment center of its kind in Michigan. Upon completion, the two-story proton therapy building will be 25,200 square feet, including a basement. The first floor will house the Proton Therapy Center. The 10,000-square-foot space will include a cyclotron that produces the proton beams and a single-room treatment area. The first patients will undergo treatment at the proton therapy center in the spring of 2017. The 8,000-square-foot second floor will house the pediatric oncology and hematology program at Beaumont Children’s Hospital. Along with hundreds of construction jobs, the new proton therapy center will create at least 30 clinical positions at Beaumont. The hospital is developing the project in cooperation with Proton International, an Atlanta-based proton therapy development group with expertise in all phases of proton therapy development and operations.
PLYMOUTH, MICH. — Colliers International has arranged the lease of a 4,100-square-foot retail space in Plymouth. The property is located at 44717 Five Mile Road. Kent Butler of Colliers International represented the landlord, Sheldon Place LP, in the lease transaction. The Little Gym is leasing the space and plans to open its second Michigan location in April. The franchise currently operates 300 locations throughout the country.
INKSTER, MICH. — Colliers International has arranged the sale of a 24,775-square-foot industrial building in Inkster, approximataely 21 miles southwest of Detroit. The property is located at 2830 Beech Daly Road. Jim Roberts and Christian Hill from Colliers International represented the seller, Thomas A. Depres Inc., and the buyer, Gold Wind Logistics LLC, a trucking company.
DETROIT — Friedman Integrated Real Estate Solutions has arranged the lease of a 60,000-square-foot industrial space located at 4335 W. Fort St. in Detroit. The landlord, JLK Real Estate Holdings, leased the building to Xenith LLC. The Lowell, Mass.-based company is a supplier of helmets that reduces the risk and severity of concussions and other traumatic brain injuries. Mike Koenigbauer of Friedman represented the tenant in the lease transaction.
AUBURN HILLS, MICH. — L. Mason Capitani CORFAC International has arranged the sale of a 37,920-square-foot industrial building in Auburn Hills. Although the final sale price was not disclosed, the asking price for the property was $975,000. Maple Mold Technologies purchased the property located at 2170 Walton Blvd. Maple Mold specializes in production molds, checking fixtures, small mold parts and prototypes. Garry Rogers and Jason Capitani of L. Mason Capitani represented both the buyer and seller in the transaction.
CHICAGO — KeyBank Real Estate Capital has arranged a $334.4 million Fannie Mae credit facility for Enlivant, a Chicago-based owner and operator of senior care facilities across the United States. The loan was arranged for 54 assisted living properties in 12 states including Iowa, Indiana, Kentucky, Michigan, Nebraska, New Jersey, Ohio, Pennsylvania, South Carolina, Texas, Washington and Wisconsin. The new loan structure provides Enlivant with access to growth capital at attractive rates during the 10-year term. Key’s Healthcare Mortgage Banking Team was led by Carolyn Nazdin and Charlie Shoop and worked in conjunction with Fannie Mae to originate and close the loan in less than 60 days.