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DevelopmentHospitalityMichiganMidwest

Waramaug Opens 256-Room DoubleTree Hotel in Lansing, Michigan, Following Renovation

by Kristin Harlow

LANSING, MICH. — Waramaug Hospitality has opened the DoubleTree by Hilton Lansing, a 256-room hotel in Lansing. Waramaug acquired the property in 2021 and decided to rebrand it and renovate all guestrooms and corridors, the lobby, Made Market, restaurants and bar, meeting rooms and pre-function spaces. The hotel also features a fitness center and two-story indoor pool. The second floor of the property connects to the Lansing Center, the city-owned 125,000-square-foot convention center. The property marks the eighth within Waramaug’s portfolio that is under the Hilton umbrella.

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AcquisitionsMichiganMidwestRetail

Marcus & Millichap Brokers $8M Sale of Grocery-Anchored Retail Center in Jackson, Michigan

by Kristin Harlow

JACKSON, MICH. — Marcus & Millichap has brokered the $8 million sale of a grocery-anchored retail center in Jackson, located about midway between Kalamazoo and Ann Arbor. Kroger and Big Lots are the anchor tenants. Ashish Vakhariya, Seth Haron and Darin Gross of Marcus & Millichap represented the all-cash buyer and seller. Additional terms of the transaction were not provided.

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Leasing ActivityMichiganMidwestRetail

Continental Realty Corp. Signs Leases with Five Retail Tenants at Oakland Plaza in Troy, Michigan

by Kristin Harlow

TROY, MICH. — Continental Realty Corp. (CRC) has signed leases totaling nearly 35,000 square feet with five retail tenants at Oakland Plaza in Troy. The 172,000-square-foot shopping center is now 97 percent occupied. CRC acquired the asset in 2021 when it was 68 percent leased. The most recent leases are with Kid’s Empire (14,579 square feet), Rally House (9,000 square feet), Meat Up BBQ (4,646 square feet), Paris Banh Mi (3,600 square feet) and Mochinut (2,571 square feet). Daniel Stern, Eric Unatin, Jared Gell and Eric Birnholtz of Mid-America Real Estate represented the landlord in all five leases.

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HealthcareLeasing ActivityMichiganMidwest

Gem Health & Wellness Signs 10-Year Lease at Meadowbrook Medical Center in Novi, Michigan

by Kristin Harlow

NOVI, MICH. — Dr. Kuzdak, who will operate his practice under the name Gem Health & Wellness, has signed a 10-year lease for 1,781 square feet at Meadowbrook Medical Center in Novi. The tenant is a family physician and primary care doctor. Eric Banks and James Mitchell of Dominion Real Estate Advisors LLC represented the tenant and the undisclosed landlord.

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HFH-MSUHS-Research-Building
DevelopmentHealthcareLife SciencesMichiganMidwestTop Stories

Joint Venture Plans $439M Inpatient Rehabilitation Hospital, Research Facility in Detroit

by Katie Sloan

DETROIT — The Gilbert Family Foundation, Henry Ford Health and Shirley Ryan AbilityLab have announced plans for the development of a $439 million inpatient rehabilitation hospital and research facility in Detroit. The project will be an expansion of the existing Henry Ford Health and Michigan State University Health Sciences campus. Plans for the project include a 125,000-square-foot inpatient tower, which will be constructed at the corner of West Grand Boulevard and John C. Lodge Freeway. The facility will offer 72 beds, with three floors of the building occupied by rehabilitation care provider Shirley Ryan AbilityLab.  The rehabilitation floors will provide inpatient care for those recovering from strokes, traumatic brain injuries, spinal cord injuries and other conditions. The Gilbert Family Foundation has provided $10 million fund to increase access to rehabilitation care for low-income residents in Detroit. The building is scheduled for completion in 2029.  The development will also include a new research building on Henry Ford Health’s East Campus. The project will house the Nick Gilbert Neurofibromatosis Research Institute, a facility dedicated to finding a cure for neurofibromatosis. The property is scheduled for completion in 2027.  The building will be the first brick-and-mortar development to be solely dedicated to neurofibromatosis …

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Leasing ActivityMichiganMidwestOffice

CBRE Relocates Grand Rapids Office, Expands Footprint

by Kristin Harlow

GRAND RAPIDS, MICH. — CBRE has relocated its Grand Rapids office from 634 Front Ave. to 200 Ottawa Ave. The brokerage has expanded its footprint from 1,444 square feet to 4,350 square feet. The new space in the central business district features conference rooms and free-address seating — where no employee has a dedicated desk or private office.

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AcquisitionsMichiganMidwestRetail

SRS Brokers $7.8M Sale of CVS-Occupied Property in Ann Arbor

by Kristin Harlow

ANN ARBOR, MICH. — SRS Real Estate Partners has brokered the sale of a 13,040-square-foot retail property occupied by CVS Pharmacy in Ann Arbor for $7.8 million. Originally constructed in 1930, the building is located at 209 S. State St. adjacent to the University of Michigan. John Redfield of SRS represented the seller, a northern California-based private investor. Michael Carter and Frank Rogers of SRS represented the buyer, a Michigan-based investment company completing a 1031 exchange. CVS has more than 14 years remaining on its triple net lease.

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DevelopmentMichiganMidwestRetail

Bedrock to Restore Historic National Theatre in Detroit

by Kristin Harlow

DETROIT — As part of its Development at Cadillac Square, Bedrock plans to restore and re-introduce the National Theatre as a music and performance venue. Plans call for the preservation and relocation of the Theatre’s historic façade. The venue originally opened in 1911, but has fallen into disrepair since its closure in 1975. Bedrock is working to restore the National Theatre in consultation with tvg Hospitality, a venue operator based in both the U.S. and U.K. In partnership with locally based promoters, tvg will operate the venue. Development at Cadillac Square is a 1.5 million-square-foot mixed-use project adjacent to Campus Martius Park and Cadillac Square. Construction of Phase I is slated to begin following the 2024 NFL Draft.

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Affordable HousingDevelopmentIllinoisIowaMichiganMidwestMultifamily

Woda Cooper Receives LIHTC Financing for Five New Affordable Housing Communities

by Kristin Harlow

COLUMBUS, OHIO — Columbus-based Woda Cooper Cos. Inc. has received Low-Income Housing Tax Credit (LIHTC) financing for the development of five new affordable housing communities in North Carolina, Michigan, Iowa, Virginia and Illinois. The North Carolina Housing Finance Agency allocated $1.2 million for Pender Crossing, a 48-unit community to be built in Wilson, N.C. Plans call for three walkup buildings with amenities such as a fitness center, computer room, playground and covered pavilion. Raleigh-based TightLines Designs is the architect. In Marquette, Mich., Woda Cooper will partner with the Keweenaw Bay Indian Community to develop Black Rock Crossing, a 50-unit general occupancy multifamily development. The Michigan State Housing Development Authority allocated $1.4 million in tax credits for the project. Grand Rapids-based PCI Design Group is the architect. Construction is expected to begin in April. The Iowa Finance Authority awarded $1.1 million in LIHTC financing for Alley Landing, a 40-unit project in Des Moines. The community will include eight Permanent Supportive Housing homes for veteran households experiencing homelessness. Hooker DeJong is the architect. Virginia Housing allocated $1.4 million in tax credits for Bains Pointe, a 50-unit development in Portsmouth, Va., named after Eliza Bains who was instrumental in helping slaves gain freedom …

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DevelopmentMichiganMidwestMultifamily

Marquette Cos. Reopens The Maxwell Apartments in Romulus, Michigan, Following $8M Renovation

by Kristin Harlow

ROMULUS, MICH. — Marquette Cos. has reopened The Maxwell, a 312-unit apartment community in Romulus. The firm completed an $8 million revitalization project to address previously deferred maintenance issues as well as property updates. Exterior upgrades include new and repaired hardscaping, restoration of the pool and deck with new furnishings, repaired and upgraded building exteriors, replacement windows and the addition of a dog park. The community clubhouse now features a renovated fitness center, updated finishes in the resident lounge, a new catering kitchen and a new leasing office. Renovations to the units include new cabinetry and countertops in the kitchens with black appliances, along with new flooring and paint. Hallways and common areas throughout the community’s 26 buildings were also renovated. Marquette worked closely with city officials prior to acquiring the property and throughout the renovation, and used local vendors for the construction work. Built in 1972 as Morgan Manor, the property was a popular home for pilots and flight attendants due to its proximity to the Detroit Metropolitan Wayne County Airport. The community offers studio, one- and two-bedroom floor plans ranging from 650 to 850 square feet. Monthly rents start at $885. Marquette partnered with DRA Advisors on the …

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