Michigan

M&M Arranges $15.2M Sale of Kroger-Anchored Shopping Center in Westland, Mich.

by Danielle Everson January 19, 2015

WESTLAND, MICH. — Marcus & Millichap has arranged the $15.2 million sale of Cherry Hill Marketplace, a 120,568-square-foot shopping center in Westland, approximately 16 miles west of Detroit. Cherry Hill Marketplace is located at 124-210 S. Merriman Road. Kroger anchors the shopping center. Other tenants include Kroger Fuel, CVS, Ace Hardware, Advance America, Great Clips and H&R Block. The property was 84 percent occupied at the time of sale. Steven Siegel of the Marcus & Millichap’s Manhattan office, and Simon Jonna and Ashish Vakhariya of the firm’s Detroit office represented the institutional seller and procured the buyer, also an institution.

January 19, 2015

Michigan Midwest

Burger & Co. Arranges 60,000 SF Lease in Taylor, Mich.

by Danielle Everson January 16, 2015

TAYLOR, MICH. — Burger & Co. has arranged the lease of a 60,000-square-foot industrial building in Taylor, approximately 19 miles south of Southfield. The building is located on Trolley Drive. Paul Burger of Burger & Co. represented the landlord, Rea Construction Co.

January 16, 2015

Loans Michigan Midwest Multifamily

NorthMarq Arranges $34.6M Loan for Apartment Complex in Sterling Heights, Mich.

by Danielle Everson January 15, 2015

STERLING HEIGHTS, MICH. — NorthMarq Capital has secured $34.6 million in refinancing for Lakeside Terrace Apartments, a 438-unit multifamily property located in Sterling Heights. The 10-year loan includes a 30-year amortization schedule. NorthMarq Capital’s Charlotte office arranged financing for the undisclosed borrower through its seller/servicer relationship with Freddie Mac.

January 15, 2015

Michigan Midwest Office

Friedman Brokers Sale of 24,112 SF Office Building in Lathrup Village, Mich.

by Danielle Everson January 15, 2015

LATHRUP VILLAGE, MICH. — Friedman Integrated Real Estate Solutions has brokered the sale of Southfield 12 Plaza, a 24,112-square-foot office building in Lathrup Village, a suburb of Southfield. The property is located at 28600 – 28690 Southfield Road. Lathrup Properties Inc. sold the building. David Cohen of Friedman represented the undisclosed buyer in the transaction.

January 15, 2015

Healthcare Michigan Midwest Office

Friedman Arranges Sale of 44,833 SF Medical/Office Building in Novi, Mich.

by Danielle Everson January 9, 2015

NOVI, MICH. — Friedman Integrated Real Estate Solutions has arranged the sale of Premier Medical Office, a 44,833-square-foot medical/office building located at 44000 W. 12 Mile Road in Novi. Griffin-American Healthcare REIT III Holdings LP purchased the property for an undisclosed sales price. Built in 2006, the two-story building is occupied by a collection of physician practices. Barry Swatsenbarg and Richard Deptula of Friedman represented the seller and the buyer in the transaction.

January 9, 2015

Industrial Michigan Midwest Mixed-Use Office Retail

The Boulder Group Arranges $2.6M Sale of FedEx Property in Michigan

by Danielle Everson January 7, 2015

FREELAND, MICH. — The Boulder Group has arranged the $2.6 million sale of a single-tenant FedEx property located at 8273 Garfield Road in Freeland. The 27,000-square-foot FedEx was built in 1991. FedEx is located along Garfield Road, the main thoroughfare between the MBS Airport Terminal and US-10. The property includes 4,000 square feet of office space and 23,000 square feet of warehouse/distribution space with 16-foot clear height ceilings. FedEx has 11 years remaining on their lease, which expires June 30, 2026. Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller, a Midwest-based private real estate investor. A Florida-based private investor purchased the property.

January 7, 2015

Michigan Midwest Office

Colliers, Wickfield Properties Arrange 134,927 SF Office Lease in Ann Arbor, Mich.

by Danielle Everson January 7, 2015

ANN ARBOR, MICH. — Colliers International Ann Arbor and Wickfield Properties have arranged the lease of 134,927 square feet of office space in Ann Arbor. Truven Health Analytics will occupy space in the Wickfield Center located at 100 Phoenix Drive. The company is relocating its North American headquarters in Ann Arbor to the center and will employ approximately 850 people at the campus. The property previously served as the former Borders Books corporate headquarters before Colliers International sold it to Ann Arbor-based Wickfield Properties in 2013. Jim Chaconas and Brendan Cavender of Colliers International Ann Arbor are directing leasing and marketing efforts for the Wickfield Center.

January 7, 2015

Michigan Midwest Restaurant Retail

Plum Market to Open Second Location in Ann Arbor, Mich.

by Danielle Everson January 6, 2015

ANN ARBOR, MICH. — Colliers International Ann Arbor has arranged the sale of a 19,020-square-foot retail building located at 3601 Plymouth Road in Ann Arbor. Green Road Retail LLC purchased the property for an undisclosed sales price. The building will be redeveloped and house Plum Market’s second Ann Arbor location. Plans include the addition of an outdoor café and a Zingerman’s coffee bar. The proposed 25,484-square-foot store is expected to bring 125 jobs to the Ann Arbor market. Jim Chaconas and Brendan Cavender of Colliers International Ann Arbor represented the seller, Cleary College, in the transaction.

January 6, 2015

Loans Michigan Midwest Restaurant Retail

Bernard Financial Group Arranges $2.7M Loan for Applebee’s Property

by Danielle Everson January 5, 2015

SOUTHFIELD, MICH. — Bernard Financial Group has arranged a $2.7 million loan to refinance an Applebee’s property in Southfield. The 5,430-square-foot building is a new construction. Dave Dismondy of Bernard Financial Group arranged the loan for the borrower, Kinaia-Ko LLC, through a life insurance company.

January 5, 2015

Michigan Midwest Office

Colliers International Ann Arbor Arranges Sale of 8,662 SF Office Building

by Danielle Everson January 5, 2015

ANN ARBOR, MICH. — Colliers International Ann Arbor has arranged the sale of an 8,662-square-foot office building in Ann Arbor. Sleeping Bear Press purchased the property, located at 2395 S. Huron Parkway, for an undisclosed sales price. The children’s book publisher is relocating its Ann Arbor offices to this location. Jim Chaconas and Brendan Cavender of Colliers International Ann Arbor represented both the undisclosed seller and the buyer in the transaction.

January 5, 2015

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