JACKSON, MICH. — Marcus & Millichap has brokered the $8 million sale of a grocery-anchored retail center in Jackson, located about midway between Kalamazoo and Ann Arbor. Kroger and Big Lots are the anchor tenants. Ashish Vakhariya, Seth Haron and Darin Gross of Marcus & Millichap represented the all-cash buyer and seller. Additional terms of the transaction were not provided.
CHICAGO — Tiny Giants has acquired a 24,563-square-foot commercial building located at 2801 W. Montrose Ave. in Chicago. The family-owned company plans to redevelop the site into a mixed-use project with a 10,000-square-foot daycare on the ground floor and apartments above. Longtime tenant Ruby Dry Cleaners relocated to a new location several blocks away. Chris Irwin of Colliers represented the buyer, while Craig Wolf and Dale Strauss of Strauss Realty Ltd. represented the sellers, private investors. The sales price was undisclosed.
TROY, MICH. — Continental Realty Corp. (CRC) has signed leases totaling nearly 35,000 square feet with five retail tenants at Oakland Plaza in Troy. The 172,000-square-foot shopping center is now 97 percent occupied. CRC acquired the asset in 2021 when it was 68 percent leased. The most recent leases are with Kid’s Empire (14,579 square feet), Rally House (9,000 square feet), Meat Up BBQ (4,646 square feet), Paris Banh Mi (3,600 square feet) and Mochinut (2,571 square feet). Daniel Stern, Eric Unatin, Jared Gell and Eric Birnholtz of Mid-America Real Estate represented the landlord in all five leases.
CHICAGO — Flack Global Metals (FGM) has signed a 6,000-square-foot office lease at 345 N. Morgan in Chicago’s Fulton Market. Owned and developed by Sterling Bay, the boutique office building is now more than 90 percent leased. FGM will be relocating its current office from 20 N. Clark St. and nearly doubling its square footage. The 11-story building is located just south of Metra’s Union Pacific West line and includes retail space on the ground floor. Sterling Bay began construction of the 200,000-square-foot property in August 2021, and completed it in September 2022. Amenities include private outdoor terraces, a top-floor bar and lounge, roof deck, fitness and wellness center, and conference rooms. Other tenants include HAVI Group, Wellington Management, Allsteel, Humanscale and JSI. Liz McCleary of CBRE represented FGM, while Austin Lusson and Daniella Hemsley represented Sterling Bay on an internal basis.
WESTFIELD, IND. — CenterSquare has acquired Casey Corner, an 80-unit build-to-rent townhome community that is under construction in Westfield, a northern suburb of Indianapolis. The acquisition of completed homes will occur in stages as the project is built. The final deliveries are slated for February 2024. Units average 1,750 square feet with three bedrooms and attached two-car garages. The seller and purchase price were undisclosed.
CHICAGO — A joint venture between The Missner Group and Realterm has completed development of a 130,354-square-foot speculative industrial building in Chicago. The Class A facility is located at 1032 W. 43rd St. within the Chicago Stockyards. The Missner Group also served as general contractor for the project, which features a clear height of 32 feet, 26 exterior docks, two drive-in doors, a 276-space parking area and 20 dedicated trailer stalls. Atom Banana, a fruit wholesaler based in Illinois, leased 61,000 square feet of the building prior to completion. The Missner Group will complete the tenant build-out and intends to start construction in the fourth quarter. The project marks the final of three developments for Realterm and Missner’s joint venture. The project team included Cornerstone Architects and engineer Spaceco Inc. Larry Goldwasser, Colin Green and Michelle Maguire of CBRE served as the leasing agents.
CINCINNATI — Marcus & Millichap has arranged the $1.6 million sale of a 6,640-square-foot property occupied by DaVita in Cincinnati. The net-leased building is located at 6929 Silverton Ave. near Mercy Health Hospital. Austin Weisenbeck, Sean Sharko and Daniel Chumbley of Marcus & Millichap represented the seller, a limited liability company. The asset sold to an out-of-state buyer.
NOVI, MICH. — Dr. Kuzdak, who will operate his practice under the name Gem Health & Wellness, has signed a 10-year lease for 1,781 square feet at Meadowbrook Medical Center in Novi. The tenant is a family physician and primary care doctor. Eric Banks and James Mitchell of Dominion Real Estate Advisors LLC represented the tenant and the undisclosed landlord.
SHEBOYGAN, WIS. — Club Car Wash has purchased two acres at 4433 Vanguard Drive in Sheboygan, about 57 miles north of Milwaukee. The purchase price was undisclosed. Joe Kleiman and Adam Dreier of Mid-America Real Estate represented the buyer. The seller was an entity doing business as 4433 Vanguard Outlots LLC.
DETROIT — The Gilbert Family Foundation, Henry Ford Health and Shirley Ryan AbilityLab have announced plans for the development of a $439 million inpatient rehabilitation hospital and research facility in Detroit. The project will be an expansion of the existing Henry Ford Health and Michigan State University Health Sciences campus. Plans for the project include a 125,000-square-foot inpatient tower, which will be constructed at the corner of West Grand Boulevard and John C. Lodge Freeway. The facility will offer 72 beds, with three floors of the building occupied by rehabilitation care provider Shirley Ryan AbilityLab. The rehabilitation floors will provide inpatient care for those recovering from strokes, traumatic brain injuries, spinal cord injuries and other conditions. The Gilbert Family Foundation has provided $10 million fund to increase access to rehabilitation care for low-income residents in Detroit. The building is scheduled for completion in 2029. The development will also include a new research building on Henry Ford Health’s East Campus. The project will house the Nick Gilbert Neurofibromatosis Research Institute, a facility dedicated to finding a cure for neurofibromatosis. The property is scheduled for completion in 2027. The building will be the first brick-and-mortar development to be solely dedicated to neurofibromatosis …
