CANTON, MICH. — Coffee Dreams has signed a 2,280-square-foot retail lease at Canton Corners shopping center in Canton, a western suburb of Detroit. The property, located on Lilley Road, now has one space remaining for lease. Michael Murphy and Jack Melton of Gerdom Realty & Investment represented the undisclosed landlord.
SOUTHFIELD, MICH. — Dominion Real Estate Advisors LLC has arranged the sale of an 11,010-square-foot warehouse in the Detroit suburb of Southfield that was previously owned by the Motown Museum. The asset was sold as part of the museum’s strategic growth plan to support its ongoing expansion efforts in Detroit. Hitzville USA recently completed its $75 million museum expansion in Midtown Detroit. Eric Banks and Alex Tokarz of Dominion represented the Motown Museum in the sale. Chris Secontine of Signature Associates represented the buyer, Lucent Surgical.
FARMINGTON HILLS, MICH. — Bernard Financial Group (BFG) has arranged a $2.8 million loan for the refinancing of Botsford Place Terrace Apartments in the Detroit suburb of Farmington Hills. The multifamily property features 98 units. David Ruff of BFG arranged the loan with Genisys Credit Union on behalf of the borrower, Botsford Place Terrace Apartments LLC.
DETROIT — Azul Hospitality has opened the AC Hotel Detroit, a 154-room hotel in the Brush Park neighborhood of Detroit. The 10-story property marks the first AC Hotel in southeast Michigan. Developed by the Roxbury Group in partnership with Peachtree Group, the hotel features a glass-enclosed lobby bar named The Conservatory, a rooftop venue and the restoration of the historic Bonstelle Playhouse. The Bonstelle, which is separately managed but connected to the hotel, will be used for live performances as well as civic, corporate and private events. Additionally, Azul has converted the Cadillac House, an historic property in Lexington, Mich., into the Tapestry Collection by Hilton. The 23-room hotel underwent an extensive renovation and expansion. The property also features the Hidden Cavern event venue and the Cadillac House Tavern & Bar.
BLOOMFIELD HILLS, MICH. — Mid-America Real Estate Corp. has brokered the sale of Bloomfield Plaza, a 151,673-square-foot shopping center in the Detroit suburb of Bloomfield Hills. The sales price was undisclosed. Anchor tenants at the fully leased property include Nino Salvaggio International Marketplace and Trader Joe’s. Additional tenants include Andiamo Italian, CVS, Planet Fitness and Sephora. Located at the southwest corner of Maple and Telegraph Roads, the center has served the community since 1957. Ben Wineman and Daniel Stern of Mid-America represented the seller, the family owners of Bloomfield Plaza’s original developer. Jack Berke of Taylor Real Estate Services represented the buyer, a private investor.
ANN ARBOR, MICH. — Marquette Cos. and a fund managed by DRA Advisors have sold The Haven at Ann Arbor, a 520-unit apartment community in Ann Arbor. Abacus Capital Group, a New York-based real estate investment firm, purchased the asset for an undisclosed price. Marquette purchased The Haven in 2017 when it was known as Village Green of Ann Arbor and undertook a $13 million revitalization project that included extensive exterior improvements and unit interior renovations. Marquette also renovated the amenities and improved site operations. At the time of sale, The Haven was 95 percent occupied. Located about a 15-minute drive from the University of Michigan, the property features studio, one- and two-bedroom units ranging from 650 to 1,075 square feet. Amenities include a clubhouse with resident lounge, three fitness centers, an outdoor pool with terrace, enclosed dog park, tennis courts, nature trails and an onsite car washing station.
GRAND RAPIDS, MICH. — Mid-America Real Estate Corp. has brokered the sale of Shops at Centerpoint in Grand Rapids for an undisclosed price. The 444,709-square-foot shopping center is home to TJ Maxx, HomeGoods, Sierra Trading Post, Nordstrom Rack, Golf Galaxy, Ulta, DSW, Old Navy, Dunham’s Sports and Planet Fitness. Ben Wineman, Joe Girardi and Daniel Stern of Mid-America represented the seller, a joint venture between New York City-based DRA Advisors and Chicago-based Pine Tree. The asset sold to Seattle-based Bridge33 Capital.
HEMLOCK, MICH. — The U.S. Department of Commerce has awarded Hemlock Semiconductor (HSC) up to $325 million in direct funding under the CHIPS Incentive Program’s Funding Opportunity for Commercial Fabrication Facilities. The funding will support the construction of a new manufacturing facility in Hemlock, about 65 miles north of Lansing. The project is expected to create approximately 180 manufacturing jobs and over 1,000 construction jobs. HSC is the only U.S.-owned manufacturer of hyper-pure polysilicon.
ROCHESTER, MICH. — Cushman & Wakefield has brokered the sale of the Henry Ford Health Rochester Hospital medical office building in Rochester, a northern suburb of Detroit. The sales price was undisclosed. The 113,687-square-foot property was built in 1994 and expanded in 2014. The facility is situated on the campus of Henry Ford Health Rochester Hospital, formerly known as Ascension Providence Rochester Hospital. Tenants include Henry Ford Health Providence Rochester, Henry Ford Health Family Practice and Contemporary Obstetrics and Gynecology PC. The hospital is part of the recently established partnership between Ascension Michigan and Henry Ford Health. Gino Lollio, Travis Ives, Sushil Puria, Tyler Morss and Garrett Keais of Cushman & Wakefield represented the seller, Detroit-based KIRCO. The buyer was UDLR Healthcare.
CLARKSTON, MICH. — Bernard Financial Group (BFG) has arranged a $2.5 million loan for the refinancing of a 141-unit multifamily community in Clarkston, a northern suburb of Detroit. Joshua Bernard of BFG arranged the loan on behalf of the borrower, Independence Square LP. Ameritas Life Insurance Corp. provided the loan.
