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Henry Ford Health Breaks Ground on $2.2B Hospital Expansion Project in Detroit

by John Nelson

DETROIT — Henry Ford Health has broken ground on a 1.2 million square-foot expansion to Henry Ford Hospital, an 877-bed tertiary care hospital in the New Center residential district of Detroit. The $2.2 billion development will be anchored by a new hospital facility situated directly across the street from the legacy campus, which will remain in operation. The new facility will include a 20-story patient tower that will offer 432 individual patient rooms and 28 new operating rooms. Each room will feature touch-screen TVs and voice activation technology for both patients and care teams, as well as dedicated space for visitors. Five floors of the patient tower will be dedicated to specialized ICU rooms, which will provide cardiovascular, neurological and other forms of care. Shirley Ryan AbilityLab, a physical medicine and rehabilitation research hospital formerly known as Rehabilitation Institute of Chicago, has partnered with Henry Ford Health and will occupy three of the top floors of the patient tower. The partnership was made possible through a $130 million investment by the Gilbert Family Foundation, according to Henry Ford Health. The Gilbert Family Foundation, a Detroit-based private nonprofit foundation founded by Dan and Jennifer Gilbert, also created a $10 million fund to support …

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AcquisitionsIllinoisIndustrialIowaMichiganMidwestWisconsin

TPG Angelo Gordon Acquires 780,000 SF Midwest Manufacturing Portfolio in Sale-Leaseback with Douglas Dynamics

by Kristin Harlow

ILLINOIS, IOWA, MICHIGAN AND WISCONSIN — TPG Angelo Gordon has acquired a 780,000-square-foot, seven-building manufacturing portfolio in a sale-leaseback transaction with Douglas Dynamics Inc., a manufacturer and upfitter of commercial work truck attachments and equipment. The transaction involves the company’s facilities in Huntley, Ill.; Manchester, Iowa; Madison Heights, Mich.; Milwaukee; and Rockland, Maine. The transaction is valued at $64.2 million, and Douglas Dynamics is expected to receive net proceeds of approximately $50 million. The company intends to use the net proceeds to pay down its term loan debt and for other corporate purposes. The initial lease for the assets is 15 years, with two 10-year options to renew.

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Affordable HousingDevelopmentLoansMichiganMidwestMultifamily

Hunt Capital Partners Provides $13M in LIHTC Financing for 50-Unit Tribal Housing Development in Northern Michigan

by Kristin Harlow

PETOSKEY, MICH. — Hunt Capital Partners has provided $13 million in Low-Income Housing Tax Credit (LIHTC) financing for Victories Square, a 50-unit tribal housing development in Petoskey, a city on Michigan’s Lower Peninsula. Victories Square will provide a mix of studio, one- and two-bedroom units for households earning up to 80 percent of the area median income. Eight of the residences will be set aside for tribal members and supported by a 45-year project-based rental assistance contract from the tribe. Amenities will include a community room, bike racks, onsite management and Wi-Fi in all common areas. Community Housing Network Inc. is the project developer. MI-Oaks Construction LLC, a joint venture between Miller Diversified Construction and Oakwood Construction Co., is the general contractor. Dimension IV Madison Design Group is the architect, and KMG Prestige will provide property management services. Odawa Economic Development Management Inc., the economic development arm of the Little Traverse Bay Bands of Odawa Indians, provided a $5 million soft loan comprised of funds from the tribe, the Shakopee Mdewakanton Sioux Community and the Michigan State Housing Development Authority. The Federal Home Loan Bank of Indianapolis provided a $448,000 Affordable Housing Program grant. A timeline for construction was not …

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DevelopmentMichiganMidwestOffice

Farbman Group Completes Atrium Renovation at New Center One Office Building in Detroit

by Kristin Harlow

DETROIT — Farbman Group has completed an atrium renovation at New Center One, a 600,000-square-foot office building in Detroit’s New Center. The renovations include new furniture, faux grass and live plants installation, upgraded LED lighting and new paint for the elevator façade. Michelle Davis of Davis & Davis managed and executed the design of the new atrium. The space will serve as a lunch and meeting spot for tenants.  

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Briarwood-Hines
DevelopmentMichiganMidwestMixed-UseMultifamilyRetailTop Stories

Hines, Simon Break Ground on Mixed-Use Development at Briarwood Mall in Ann Arbor

by Katie Sloan

ANN ARBOR, MICH. — A joint venture between Hines and Simon Property Group (NYSE: SPG) has broken ground on a mixed-use development at Briarwood Mall, a regional mall in Ann Arbor.  Owned by Simon, Briarwood Mall opened its doors in October 1973. The new mixed-use component of the property, which sits about 2.5 miles south of the University of Michigan, will include a four-story luxury apartment building, Harvest Market grocery store and additional retail space surrounding an activated outdoor plaza.  The partnership has broken ground on the multifamily component of the project. The community will offer 370 units in studio, one-, two- and three-bedroom configurations with in-unit washers and dryers, quartz countertops and smart home technology. Shared amenities for residents will include two open-air courtyards with seating and grilling stations, a private dog run and pet spa, fitness center, golf simulator, club room, lounge, coworking spaces and a 325-stall parking structure.  The development, which is targeting LEED certification, was partially funded through Hines U.S. Direct Investments (HUSDI). Northwestern Mutual provided a loan to facilitate the construction of the project, which is expected to take approximately two years to complete.  “It’s an exciting time for Ann Arbor as we break ground …

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CivicDevelopmentMichiganMidwest

Michigan State University Plans New Arena, Approves Construction of $200M Plant Sciences Building

by Kristin Harlow

EAST LANSING, MICH. — The Michigan State University Board of Trustees has authorized the administration to begin a planning study to construct a new venue at the corner of Harrison and Trowbridge roads in East Lansing. The project involves the construction of a new hotel and retail space along with an athletics arena on 14 acres of vacant land on the west side of campus. The arena will support volleyball, wrestling and gymnastics, and will feature locker rooms, coaching office space and university classrooms. The hotel and retail space would be part of a public-private partnership between the university and the chosen developer. The authorization by the board enables the university to initiate the forma bidding process for potential developers before moving into the Request for Proposal period in the coming weeks. Additionally, the board voted to authorize construction of a new $200 million Plant and Environmental Sciences Building. The 200,000-square-foot facility, located at the corner of Farm Lane and Wilson Road, will provide critical laboratory space for approximately 40 principal investigators and their teams researching food security and climate adaptation. Construction is scheduled to begin this fall, with completion slated for December 2026.

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HealthcareMichiganMidwest

Henry Ford Health, Ascension Michigan Move Forward with Proposed Joint Venture

by Kristin Harlow

DETROIT — Detroit-based Henry Ford Health and Ascension Michigan have unveiled plans to close their proposed joint venture on Sept. 30 and launch their newly combined organization on Oct. 1. The joint venture will bring Ascension’s southeast Michigan and Genesys healthcare facilities under the Henry Ford brand. The properties include eight hospitals and an addiction treatment center, according to Crain’s Detroit Business. Carol Schmidt, senior vice president of Ascension and CEO of Ascension Michigan, will support the first phase of transition and integration, partnering with Henry Ford Health President and CEO Bob Riney. The combined organization would employ approximately 50,000 team members at more than 550 sites across Michigan. Crain’s reports that Ascension is left with four hospitals in the state, all in the southwest area.  

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DevelopmentLeasing ActivityMichiganMidwestRestaurantRetail

Chick-fil-A to Open 25 to 30 New Restaurants in Michigan by End of 2028

by Kristin Harlow

MICHIGAN — Chick-fil-A has unveiled plans to open approximately 25 to 30 new locally owned and operated restaurants across Michigan by the end of 2028. The new restaurants will create over 2,500 jobs across the state. Chick-fil-A first opened in Michigan in 2015, and currently operates 28 locations in the state. In metro Detroit, Chick-fil-A plans to open in Chesterfield Township, Roseville, Taylor and Fort Gratiot this fall or winter. Additional growth includes a licensed location in the First National Building, and locally owned and operated restaurants in Detroit, Auburn Hills, Lincoln Park, Orion Township, Clinton Township, Canton and Ann Arbor. Two restaurants are slated to open in 2025 in Lansing/Jackson, as well as one restaurant in Saginaw and another in Benton Harbor. Chick-fil-A is the third largest quick-service restaurant company in the United States with more than 3,000 restaurants across the U.S., Canada and Puerto Rico.

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AcquisitionsHealthcareMichiganMidwest

Marcus & Millichap Brokers $3.5M Sale of Medical Office Building in Clinton Township, Michigan

by Kristin Harlow

CLINTON TOWNSHIP, MICH. — Marcus & Millichap has brokered the $3.5 million sale of McLaren Macomb-Gratiot Medical Building, a 17,333-square-foot medical office property in the Detroit suburb of Clinton Township. The asset is fully leased to McLaren Macomb, a subsidiary of the McLaren Health Care Corp. The multi-specialty clinic serves as a hub for McLaren’s residency program and is situated near the affiliated 288-bed McLaren Macomb Hospital. Seth Haron, Ashish Vakhariya and Darin Gross of Marcus & Millichap represented the seller, Platform Ventures LLC, and the buyer, Nova Sky Investments LLC.

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AcquisitionsMichiganMidwestMultifamilySeniors Housing

Blueprint Arranges Sale of 374-Unit Continuing Care Retirement Community in Grand Rapids

by Kristin Harlow

GRAND RAPIDS, MICH. — Blueprint Healthcare Real Estate Advisors has arranged the sale of a 374-unit continuing care retirement community in Grand Rapids for an undisclosed price. Samaritas, a Michigan-based nonprofit owner and operator, selected Blueprint to negotiate the disposition. Since its original construction in 1977, the 40-acre community has grown to include 24 independent living cottages, 148 independent living apartments, 17 assisted living units, a 60-unit memory care community and a 125-bed skilled nursing and long-term care facility. The buyer was Optalis Healthcare, a post-acute rehabilitation and long-term care provider across Michigan and Ohio. StoryPoint Group, another Michigan-based senior living provider, will manage the independent living community on the campus, formerly known as The Terraces.

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