Michigan

ONE to Invest $1.6B in Battery Cell Manufacturing Plant in Michigan

by Kristin Harlow October 7, 2022

VAN BUREN TOWNSHIP, MICH. — Our Next Energy (ONE), a Michigan-based energy storage technology company, has unveiled plans to invest $1.6 billion in a new battery cell manufacturing plant in Van Buren Township, about 28 miles southwest of Detroit. The recently constructed facility will be named ONE Circle and is expected to create 2,112 jobs when operating at full capacity by the end of 2027. The 659,589-square-foot facility will produce 200,000 electric vehicle battery packs annually. ONE will begin upgrades and equipment installation at the property in January 2023. Production at the plant is slated to begin in 2024. Ashley Capital owns the property, which is located at 42060 Ecorse Road within the Crossroads Distribution Center.

October 7, 2022

Acquisitions Healthcare Michigan Midwest

JLL Arranges Sale of 23,328 SF Medical Office Building in Novi, Michigan

by Kristin Harlow October 4, 2022

NOVI, MICH. — JLL has arranged the sale of the Novi Wellness Center, a 23,328-square-foot medical office building in Novi, which is located about 29 miles northwest of downtown Detroit. The sales price was undisclosed. The property at 39500 West Ten Mile Road, renovated in 2020, was 97 percent leased at the time of sale by tenants such as Beaumont Health, Smile Doctors and ThriveWorks. Chris DiSalle of JLL represented the seller, Woodside Health. Private equity firm Excelsior Capital was the buyer.

October 4, 2022

Acquisitions Michigan Midwest Office

JLL Brokers $7M Sale of Former Huntington Bank Headquarters in Holland Township, Michigan

by Kristin Harlow September 22, 2022

HOLLAND TOWNSHIP, MICH. — JLL Capital Markets has brokered the $7 million sale of the former Huntington Bank headquarters located at 10717 Adams St. in Holland Township, about 30 miles southwest of Grand Rapids. Family Church purchased the 132,127-square-foot property for its third location in West Michigan. The three-story building, constructed in 1992, sits on nearly 42 acres. Family Church plans to use the main floor for both fellowship and sanctuary worship space, while the upper floor will be utilized as educational space. Plans for the lower floor are still being determined. The church expects to begin services at the building in 2023. Jeff Karger of JLL represented the seller, Charlotte, N.C.-based Arrowpoint Capital. Steve Sterken of Coldwell Banker Woodland Schmidt represented Family Church.

September 22, 2022

Development Michigan Midwest Retail

Gillespie Group to Redevelop Former Sears Property in Lansing, Michigan

by Kristin Harlow September 1, 2022

LANSING, MICH. — Gillespie Group has unveiled plans to redevelop a former Sears Roebuck location at 3131 E. Michigan Ave. in Lansing. The property is being marketed as ROECO, a retail and entertainment destination. Specific redevelopment plans have yet to be finalized. The name ROECO is a nod to Sears Roebuck, which occupied the property for 66 years. Most recently, Sparrow Health System utilized the site for COVID testing. Gillespie Group is working with CBRE to secure retailers, restaurants and entertainment concepts for the redevelopment project. The timeline and final product mix are subject to change.

September 1, 2022

Acquisitions Michigan Midwest Multifamily Seniors Housing

Capital Real Estate Group Brokers $32.5M Sale of Two-Property Seniors Housing Portfolio in Michigan

by Kristin Harlow August 31, 2022

CENTRAL MICHIGAN — Capital Real Estate Group (CREG), through its U.S. Healthcare Investment Sales practice, has brokered the sale of a two-property seniors housing portfolio in Central Michigan. The properties total 139 units across 126,000 square feet. The two communities are located adjacent to one another and are spread over 13.5 acres. The portfolio’s unit mix comprises 88 assisted living units, 33 independent living units and 18 memory care units. The portfolio is over 80 percent leased and has maintained that occupancy on average for the past two years. A publicly traded healthcare REIT acquired the assets for $32.5 million. Andrew Larwood and Allen Inman, CREG’s managing partners, acted as the undisclosed seller’s exclusive advisor.

August 31, 2022

Leasing Activity Michigan Midwest Retail

Jazzercise to Open 1,800 SF Location in Troy, Michigan

by Kristin Harlow August 31, 2022

TROY, MICH. — International franchise chain Jazzercise Fitness Co. has signed a five-year lease to open an 1,800-square-foot location at Troy Sports Center in Troy. The property is located at 1819 E. Big Beaver Road. Barry Landau of Dominion Real Estate Advisors represented both the tenant and the undisclosed landlord. Jazzercise, founded in 1969, operates 5,800 locations in 25 countries.

August 31, 2022

Leasing Activity Michigan Midwest Retail

Gerdom Realty Completes Lease-up of Retail Center in Livonia, Michigan

by Kristin Harlow August 25, 2022

LIVONIA, MICH. — Gerdom Realty & Investment has completed the lease-up of Century Plaza in Livonia. Marco’s Pizza leased the final 2,000 square feet remaining at the retail center, which is located at the northeast corner of Five Mile and Newburgh roads. Michael Murphy and Tjader Gerdom of Gerdom Realty represented the landlord, Kimco Realty Corp. Gordon Denha of CBRE represented the tenant.

August 25, 2022

Development Michigan Midwest Restaurant Retail

Sports & Social DraftKings to Open at Somerset Collection in Troy, Michigan

by Kristin Harlow August 23, 2022

TROY, MICH. — DraftKings Inc. and Live! Hospitality & Entertainment are opening the country’s first Sports & Social DraftKings venue at Somerset Collection in Troy this fall. Sports & Social DraftKings will offer a live sports viewing and wagering experience with a 32-foot LED media wall and gameday watch parties. Guests will be able to access DraftKings’ mobile platforms to play fantasy sports and wager on sports, including football, basketball, baseball, golf, MMA, soccer and tennis. The venue will offer a menu with a variety of gameday foods and specialty drinks. The 10,400-square-foot space will be in the standalone building adjacent to Somerset Collection South. The venue will feature a private lounge, dog-friendly outdoor patio, live music and a variety of games. ICRAVE is the project architect. Additional locations are expected to be announced in the coming months. DraftKings is a digital sports entertainment and gaming company. Sports & Social is a dining and entertainment concept developed and operated by Live! Hospitality & Entertainment, a division of The Cordish Cos. Somerset Collection is a retail destination owned by The Forbes Co. and home to 180 stores and restaurants.

August 23, 2022

Acquisitions Michigan Midwest Retail

Marcus & Millichap Brokers $2.9M Sale of Retail Center in Livonia, Michigan

by Kristin Harlow August 22, 2022

LIVONIA, MICH. — Marcus & Millichap has brokered the $2.9 million sale of Century Plaza in Livonia, just west of Detroit. The 19,584-square-foot retail center is located at 37300 Five Mile Road. Davita Dialysis anchors the fully leased property. Craig Fuller, Erin Patton and Scott Wiles of Marcus & Millichap represented the seller, a REIT. The team also procured the all-cash buyer.

August 22, 2022

Leasing Activity Michigan Midwest Retail

Two New Retailers Join Tenant Lineup at Green Oak Village Place in Brighton, Michigan

by Kristin Harlow August 22, 2022

BRIGHTON, MICH. — Spencer’s and European Wax Center have signed leases to open new locations at Green Oak Village Place in Brighton, a western suburb of Detroit. Both retailers are slated to open by this fall. Spencer’s, which sells edgy T-shirts, jewelry and accessories, will occupy 2,528 square feet. The European Wax Center location will span 1,710 square feet. Green Oak Village Place is home to more than 50 retailers and restaurants. REDICO and Lormax Stern developed the 500,000-square-foot property.

August 22, 2022

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