FLINT, MICH. — Metro Infusion Center has signed a seven-year, 2,435-square-foot medical office lease at 1321 S. Linden Road in Flint. The tenant is an infusion and injection therapy provider with more than 160 locations nationwide. Jim Mitchell of Dominion Real Estate Advisors and Michele Rosenblum of Lee & Associates represented the landlord, LSPV Cornerstone, an affiliate of Versa Development Co.
DETROIT — The Herrick Co. has acquired a 21-story office tower at 2025 Woodward Ave. in downtown Detroit for $150 million. Locally based architecture firm Neumann Smith designed the 421,481-square-foot building, which was delivered in fall 2022 and acts as a headquarters for Huntington National Bank’s (NASDAQ: HBAN) commercial division. The bank fully occupies the property on a triple-net-lease basis. The building features ground-floor retail space, including a Huntington Bank branch; 10 floors of structured parking; a cafe; and a rooftop terrace with space for movies or sporting events to be projected on the side of the tower. The deal is the largest building acquisition to close in Detroit since the start of the COVID-19 pandemic, according to Crain’s Detroit Business. The seller was not disclosed. Huntington acquired TCF Financial Corp. in 2020 for $22 billion. The combined company operates more than 1,000 branches in 11 states. The bank’s stock price closed at $11.42 per share on Wed. June 7, down from $13.10 one year ago. The Herrick Co. is a national real estate investment firm that has completed more than $6 billion in transactions. The company focuses on acquiring single-tenant buildings net leased to office, industrial and retail users, …
FLINT, MICH. — General Motors Co. (NYSE: GM) has unveiled plans to invest more than $1 billion in two of its manufacturing facilities in Flint — Flint Assembly and Flint Metal Center. The investments will be utilized to prepare the plants for the production of internal combustion engine (ICE) heavy-duty trucks. At Flint Assembly, GM will invest $788 million for a body shop building expansion, general assembly conveyor expansion and new tooling and equipment. At Flint Metal Center, GM will invest $233 million for new stamping dies as well as press refurbishments and new equipment. GM has announced more than $1.7 billion in investments for Flint-area operations in 2023.
MT. PLEASANT, MICH. — Alpine Realty Capital LLC, a member of Hotel Brokers International, has brokered the sale of the Comfort Inn & Suites and Conference Center in Mt. Pleasant, a city in central Michigan. The sales price was undisclosed. The 137-room hotel includes an adjacent 10,000-square-foot conference center and is situated near the main campus of Central Michigan University (CMU). The property is located on a 10-acre site that is leased from CMU. Further details of the sale were not provided.
BATTLE CREEK, MICH. — Friedman Real Estate has brokered the sale of Health Park South, a 35,858-square-foot medical office building in Battle Creek, about 25 miles east of Kalamazoo. The sales price was undisclosed. Located at 2845 SW Capital Ave., the property is home to Ascension Borgess Hospital, Bronson Health Internal Medicine and Fresenius Kidney Care. Andrew Bower of Friedman represented the undisclosed buyer.
ROYAL OAK, MICH. — Marcus & Millichap has arranged the $2.2 million sale of single-tenant property occupied by Starbucks in the Detroit suburb of Royal Oak. Darin Gross, Ashish Vakhariya and Seth Haron of Marcus & Millichap represented the all-cash buyer and seller. The sales price equated to $1,208.79 per square foot. Starbucks exercised an early renewal option for the property.
LESLIE, MICH. — Friedman Real Estate has brokered the sale of a 123,596-square-foot industrial facility in Leslie, about 24 miles south of Lansing. The sales price was undisclosed. The property sits on nearly 15 acres at 815 Rice St. Friedman’s Ryan Stipp represented the seller. Additional terms of the transaction were not provided.
DETROIT — Developer Bedrock and hospitality company Method Co. are set to open the ROOST apartment hotel at Book Tower in Detroit on Thursday, June 1. The extended-stay hotel concept is now accepting reservations. The development team is also unveiling Anthology, a special events platform with several different event venues. Anthology is accepting inquiries for events beginning in September. Book Tower has undergone a seven-year restoration project totaling nearly $400 million. ROOST Detroit features 117 furnished studio, one- and two-bedroom apartment hotel units. Blending the comfort and practicality of apartment living with the amenities of a boutique hotel, all the units feature full-sized kitchens, stainless steel appliances, hardwood flooring and curated finishings. ROOST guests have access to a bike share program, fitness center and 3,000 square feet of coworking space. Anthology’s event spaces include: the Conservatory Ballroom, a 2,800-square-foot space capped by a glass skylight; the Linden Room, which holds 150 people and can be utilized for pre-function space or cocktail hours; and Graystone Lane, an alleyway with food and beverage spaces on the main level and rooftop. Anthology can host personal celebrations, weddings and corporate events. Book Tower also features 229 apartment units and 52,000 square feet of office …
SOUTHFIELD, MICH. — Costco has purchased 13.4 acres within the Northland City Center development in Southfield for an undisclosed price. Alan Stern and Rich Deptula of Friedman Real Estate represented the undisclosed seller. The retailer plans to build Michigan’s first Costco Business Center. The property will be different from Costco’s standard consumer retail warehouses in that products will be offered in greater quantities and won’t include the bakery and pharmacy that are in current Michigan locations. The project will total 160,000 square feet. Northland City Center is the redevelopment of the former Northland Mall and will include office, retail, medical and multifamily space. No construction timeline was provided.
MICHIGAN — Fast-casual restaurant Slim Chickens has inked a deal to open 25 new locations throughout Southeast Michigan. Business partners Brad and Todd DeLange along with Doug Broadright are spearheading the expansion. Currently, Slim Chickens operates more than 225 locations across the United States and the United Kingdom with more than 1,100 locations in development. Slim Chickens offers 17 different dipping sauces and a variety of menu items such as chicken tenders, salads, sandwiches, chicken and waffles, chicken wings and various sides. The first Slim Chickens opened in 2003 in Fayetteville, Ark. A timeline for the opening of the Michigan locations was not provided.