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DETROIT — New York-based The Northern Group has acquired Lafayette Towers, two 22-story apartment towers located inside the 78-acre Lafayette Park development in Detroit. The towers comprise a combined 584 units, and feature 24-hour attended gatehouses with concierges, fitness centers in each tower, heated outdoor swimming pools with sundecks and laundry facilities. Lafayette Towers also overlooks a 19-acre park that includes a network of walking paths connecting the towers to a mix of townhouses, tennis and basketball courts, a playground, an elementary school and a small shopping center. The Northern Group acquired the property from Chicago-based The Habitat Company for an undisclosed price.
OVERLAND PARK, KAN. — Kansas City, Mo.-based Block & Co. has arranged the purchase of Commerce Plaza, a two-building office complex located in Overland Park. The two buildings total approximately 280,000 square feet of office space, and also contain a delicatessen on the first floor of Commerce Plaza II and a multi-level parking structure. Kenneth Block and Harry Drake of Block represented the buyer, Boston-based Colony Realty Partners, which acquired the property from Kansas City-based KPERS Realty Holding No. 1 for an undisclosed price. Block will also provide leasing and property management services for the buildings
CHICAGO — NAI Hiffman has completed the sale of a 305,000-square-foot Dominick’s distribution facility located in Crawford Industrial Park at 4404 W. District Blvd. in Chicago. The facility is situated on 17 acres and features 72 cross-docked loading docks, 23-foot clear ceiling heights and 95 parking spaces. Lawrence Much and Stephen Connolly of NAI Hiffman represented the seller, Dominick’s Finer Foods, as well as the buyer, an affiliate of New York City-based KTR Capital Partners. The same team will also handle leasing of the facility. KTR has also announced the construction of a new 180,000-square-foot distribution facility located adjacent to the existing building. Keeley Construction has been retained for the improvements and expansion of the existing facility. The acquisition price was not disclosed.
BROWN DEER, WIS. — A 74-suite Candlewood Suites is set to open in the Milwaukee suburb of Brown Deer in the second quarter of this year. The $6 million, 20,000-square-foot hotel will feature wireless Internet access, a fitness center, a business center and complimentary guest laundry. Individual rooms will feature a fully equipped kitchen, a large workspace, an overstuffed recliner, and a VCR or DVD player. The hotel will be the first Candlewood Suites in the Milwaukee area.
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