Michigan

Kalamazoo Child and Family Counseling to Open New Location in West Michigan

by Kristin Harlow November 1, 2022

KALAMAZOO, MICH. — Kalamazoo Child and Family Counseling PLLC is opening a second location in West Michigan at The Atriums Office Park in Kalamazoo. The property is located at 4341 S. Westnedge Ave. Kalamazoo Child and Family Counseling is a mental health clinic dedicated to serving children and teens that have anxiety, post-traumatic stress disorder, grief and loss or disruptive behaviors. The practice’s primary office is in Portage. The new location will provide all the same services as the Portage location and is slated to open in November. Kara Schroer of NAI Wisinski of West Michigan represented both the undisclosed landlord and the tenant in the lease.

November 1, 2022

Leasing Activity Michigan Midwest Retail

Millennial Collection to Open 1,600 SF Store in Sterling Heights, Michigan

by Kristin Harlow October 26, 2022

STERLING HEIGHTS, MICH. — Millennial Collection, a trading card and gaming store, has signed a lease for 1,600 square feet at Brookside Shopping Center in Sterling Heights. The tenant will occupy space formerly home to an arcade. Michael Murphy and Tjader Gerdom of Gerdom Realty & Investment represented the undisclosed landlord in the lease.

October 26, 2022

Affordable Housing Loans Michigan Midwest Multifamily

Greystone Provides $10.8M HUD-Insured Loan for Refinancing of Michigan Affordable Housing Community

by Kristin Harlow October 21, 2022

SAGINAW TOWNSHIP, MICH. — Greystone has provided a $10.8 million HUD 223(f) loan for the refinancing of Lakeside Village Apartments in Saginaw Township within central Michigan. The 200-unit affordable housing community was constructed in 1980. Lisa Fischman of Greystone originated the 35-year loan, which features a fixed interest rate and a 35-year amortization schedule. The Altman Cos. was the borrower. The property qualifies for a lower annual mortgage insurance premium (MIP) of 0.25 percent because it is rent-restricted. In addition to the refinancing, loan proceeds will enable the borrower to continue with ongoing property improvements, according to Greystone.

October 21, 2022

Development Industrial Michigan Midwest

Kroger Opens 135,000 SF Customer Fulfillment Center in Romulus, Michigan

by Kristin Harlow October 20, 2022

ROMULUS, MICH. — The Kroger Co. has opened its newest customer fulfillment center (CFC) in Romulus. Powered by the Ocado Group, the roughly 135,000-square-foot CFC will leverage advanced robotics technology and creative solutions for Kroger delivery services. Kroger utilizes temperature-controlled vans and machine-learning algorithms that optimize delivery routes for grocery deliveries. Machine-learning algorithms adjust themselves to perform better as they are exposed to more data. Orders are delivered to customers’ doorsteps by trained Kroger associates. The CFC in Romulus will reach customers up to 90 minutes from the site and will employ more than 700 associates. Kroger first announced its partnership with Ocado, a technology company that specializes in grocery e-commerce, in 2018. Kroger currently operates CFCs in Ohio, Florida, Georgia, Wisconsin, Texas and Michigan. Additional centers are slated for California, Maryland, Arizona, Ohio, North Carolina and Colorado as well as South Florida and the Northeast.

October 20, 2022

Loans Michigan Midwest Multifamily

Bernard Financial Group Arranges $16.8M Loan for Refinancing of Michigan Multifamily Property

by Kristin Harlow October 19, 2022

CLINTON TOWNSHIP, MICH. — Bernard Financial Group has arranged a $16.8 million Freddie Mac loan for the refinancing of a 206-unit multifamily property in Clinton Township, about 25 miles north of Detroit. Dennis Bernard and Adam Ferguson of Bernard arranged the loan on behalf of the borrower, Oxford Square Limited Dividend Housing Association LP. Loan terms were not provided.

October 19, 2022

Acquisitions Michigan Midwest Multifamily

Friedman Brokers $6.4M Sale of Georgetown Manor Apartments in Chesterfield, Michigan

by Kristin Harlow October 19, 2022

CHESTERFIELD, MICH. — Friedman Real Estate has brokered the $6.4 million sale of Georgetown Manor Apartments in Chesterfield, about 30 miles north of Detroit. The property features studio, one- and two-bedroom units. Constructed in 1968, the complex is home to 97 units, according to Apartments.com. Peter Jankowski and Rich Deptula of Friedman represented the undisclosed buyer. The seller was also undisclosed.

October 19, 2022

Acquisitions Michigan Midwest Retail

Clean Hub Car Wash Buys 4,700 SF Retail Building in Oxford, Michigan

by Kristin Harlow October 19, 2022

OXFORD, MICH. — Clean Hub Car Wash has purchased a 4,700-square-foot retail building at 153 S. Washington St. in Oxford, about 40 miles north of Detroit. Barry Landau of Dominion Real Estate Advisors LLC represented the seller, DJG Properties LLC. Jordan Jabbori of CMP Real Estate Group represented Clean Hub Car Wash, which currently operates out of Sterling Heights but has three new locations coming soon.

October 19, 2022

Acquisitions Hospitality Michigan Midwest

Marcus & Millichap Arranges Sale of 62-Room Quality Inn Hotel in Marshall, Michigan

by Kristin Harlow October 13, 2022

MARSHALL, MICH. — Marcus & Millichap has arranged the sale of the 62-room Quality Inn hotel in Marshall, about 47 miles south of Lansing. The sales price was undisclosed. Built in 1997, the property sits on two acres at 204 Winston Drive. Ebrahim Valliani and Michael Klar of Marcus & Millichap represented the seller, a private investor. The duo, along with colleague Steve Chaben, represented the buyer, a New York-based limited liability company. Marcus & Millichap’s Allan Miller and Chris Gomes were also listed on the deal as supporting brokers.

October 13, 2022

Development Michigan Midwest Multifamily

Thompson Thrift to Develop 344-Unit Luxury Apartment Complex Near Grand Rapids

by Kristin Harlow October 11, 2022

WYOMING, MICH. — Thompson Thrift has acquired 29 acres in the Grand Rapids suburb of Wyoming with plans to build a 344-unit luxury apartment complex. Completion is slated for late 2023. Located near the intersection of Wilson Avenue and 64th Street, the property will be named The BLVD at Wilson Crossings. Amenities will include a clubhouse, pool, fitness center, dog park, pickleball courts, green space and grilling stations. The project marks Thompson Thrift’s second Grand Rapids-area community following The Grove, which opened in fall 2021.

October 11, 2022

Acquisitions Michigan Midwest Office

L. Mason Capitani/CORFAC International Brokers Sale of Two Office Buildings in Auburn Hills

by Kristin Harlow October 11, 2022

AUBURN HILLS, MICH. — L. Mason Capitani/CORFAC International has brokered the sale of two office buildings totaling 275,000 square feet in Auburn Hills for an undisclosed price. The properties, Cambridge Court I and II, are situated near I-75 and University Drive. Mason L. Capitani of the brokerage represented the buyer, LREH Michigan LLC. L. Mason Capitani/CORFAC will oversee leasing at the properties and its property management arm, Liberty Property & Asset Management, will take over all management responsibilities. The new ownership plans to immediately make renovations.

October 11, 2022

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