EAST LANSING, MICH. — Crunch Fitness has signed a lease to occupy a 27,835-square-foot building near Michigan State University. The property is located at 2535 E. Grand River Ave. This is the seventh location in Michigan for Crunch. Michele Rosenblum of Dominion Real Estate Advisors and Alan Stern of Friedman Real Estate brokered the lease transaction. There are more than 265 franchised Crunch locations across the United States, Canada and Australia.
GRAND RAPIDS, MICH. — Arbor Realty Trust Inc. has provided a $14 million Fannie Mae loan for the permanent financing of The Gateway at Belknap Apartments in Grand Rapids. Built in 2017, the apartment property features 88 units and ground-floor retail space. Michael Jehle of Arbor originated the 15-year, fixed-rate loan, which features a 30-year amortization schedule.
DETROIT — Cohn Commercial Properties has brokered the sale of El Tovar Apartments in Detroit’s Islandview neighborhood for $1.4 million. Located at 320-340 E. Grand Blvd., the apartment property consists of 72 units. The property was originally built in 1928 and is scheduled to undergo renovations. Harry Cohn and Marcel Pearl of Cohn Commercial represented both the buyer, Midwest Capital, and the seller, El Tovar Limited Dividend Housing Association LP.
CLARKSTON, MICH. — Crispelli’s Bakery & Pizzeria has signed a 3,892-square-foot lease in Clarkston. This will be the restaurant’s fourth location in Michigan. Crispelli’s will join T-Mobile, Great Clips and Jersey Mike’s at the new Shoppes of Clarkston development. Tjader Gerdom and Michael Murphy of Gerdom Realty represented the tenant in the lease transaction. Chris Jonna of CMP Real Estate Group represented the undisclosed landlord.
MARQUETTE, MICH. — Marcus & Millichap has arranged the sale of three net leased properties in Marquette for $3.7 million. The properties include an 84,180-square-foot Kohl’s, an Applebee’s pad site and another pad site occupied by Verizon Wireless and H&R Block. The buildings are outparcels of Westwood Mall. Mark Taylor, Shannon Bona and Brian Sy of Marcus & Millichap marketed the portfolio on behalf of the seller, a private development company. Taylor, along with Donovan Mackey, secured the private equity buyer.
TROY, MICH. — The City of Troy Planning Commission has approved the final site plan for a new 9,844-square-foot retail center at the southeast corner of Tower Drive and Crooks Road. Plans call for three fast-casual restaurants and an additional commercial tenant. A new pedestrian path along Crooks Road will connect the retail center to the existing sidewalk and to the 901 Tower office building. Construction is expected to begin as early as this summer. No further site plan approvals, other than building permits, are required. NORR Architects, Engineers and Planners designed the property. Dominion Real Estate Advisors will market the property for lease.
GRAND RAPIDS, MICH. — NAI Wisinski of West Michigan has brokered the sale of 958 Fulton in Grand Rapids for an undisclosed price. The 13,400-square-foot property includes six retail bays on the first floor and nine apartment units on the second floor. Retailers include Mercury Head Frame Shop, Perrin’s Upholstery, Rinaldi’s Pizza and a party store. Russ Bono and Cameron Timmer of NAI Wisinski represented both the buyer, a group of local investors, and the seller, L&M Properties.
WYOMING, MICH. — Walker & Dunlop Inc. has secured a $24.8 million loan for the construction of Traditions at Rivertown, a seniors housing complex in Wyoming, just south of Grand Rapids. The 150-unit property will include independent living, assisted living and memory care units. Slated for completion in November, the property will feature a library, bar, theater, fitness center, coffee bar, lounge and underground parking. Benjamin Krosin, Jeff Schmidt, Tim Cotter and Russell Dey of Walker & Dunlop partnered with Kari Zapolski of Inner Circle Holdings to structure the five-year loan with three years of interest-only payments. A regional bank provided the loan on behalf of the borrower, Redstone Group Management Inc.
ANN ARBOR, MICH. — Granger Construction and architect Harley Ellis Devereaux (HED) have completed the renovation of the Robert H. and Judy Dow Alexander Cancer Center at the St. Joseph Mercy Ann Arbor’s hospital campus. The $24 million project involved the expansion of the cancer center to 66,000 square feet in order to provide space for the hospital’s growth and to enhance the facility’s cancer research and treatment facilities. Home to 38 exam rooms, the expanded facility offers a separate entrance and exit for patients. The existing building’s main atrium was also replaced, and significant exterior improvements were added. A new infusion center overlooks a healing garden. St. Joseph Mercy Hospital owns the facility and served as project developer.
TRAVERSE CITY, MICH. — The Greenwich Hospitality Group (GHG) has acquired West Bay Beach Holiday Inn Resort in Traverse City for $23.2 million. The 179-room, full-service resort, originally built in 1968, is located on the West Bay. The hotel will be elevated to a four-star property and rebranded as Delamar Traverse City after undergoing a $10 million renovation over a two-year period. The hotel will remain open during the renovation. Delamar is the flagship brand of GHG. The hotel last changed hands in 2012, when Birmingham, Mich.-based private equity firm ValStone Partners LLC purchased it from TC Hotel LLC, according to the Traverse City Record Eagle.