LANSING, MICH. — As the COVID-19 death count in Michigan climbed to 15 on Monday, and the state’s total confirmed case count was 1,328, Michigan Gov. Gretchen Whitmer signed a “Stay Home, Stay Safe” executive order, directing all Michigan businesses and operations to temporarily suspend in-person operations that are not necessary to sustain or protect life. The order is effective today and runs through April 13. Non-essential businesses could be subjected to a fine of up to $500, forced closure. Business owners who violate the order could face up to 90 days in jail, according to a spokeswoman for the Michigan Attorney General’s Office as reported by the Detroit Free Press. The order came with a lot of questions from the business community about which businesses are considered essential and which aren’t. For instance, Ohio’s stay-at-home order includes a list of specific businesses that are considered essential, but Michigan’s order does not, according to The Detroit News. Included under Ohio’s order are contractors, laundering and dry-cleaning and hardware supply stores. The order directs Michiganders to stay in their homes unless they’re part of a critical infrastructure workforce, engaged in an outdoor activity or performing tasks necessary to the health and …
DETROIT — Bedrock, the real estate development company created by Quicken Loans Founder Dan Gilbert, will temporarily waive all rent, expenses and parking fees for restaurants and retail tenants that qualify as small businesses and which occupy space at the landlord’s buildings in downtown Detroit. Bedrock owns about 50 percent of the leasable commercial real estate space in Detroit’s 1.4-square-mile downtown business district, according to The Wall Street Journal. In downtown Detroit, Bedrock’s real estate portfolio includes 125 retailers and restaurants. The rent forgiveness initiative, which runs from April through June, comes as businesses across the state temporarily suspend in-person operations unless they are deemed essential. Michigan Gov. Gretchen Whitmer issued a “Stay Home, Stay Safe” executive order on Monday in response to the coronavirus outbreak. The order will be in effect through April 13. Bedrock recognizes that many of its small restaurant and retail tenants have taken a big hit financially due to lost business during the crisis and want to enable these tenants to use their resources to pay bills and meet payroll commitments. Qualification as a small business is based on criteria established using industry and governmental standards.
MOUNT HOREB, WIS. — As a result of the COVID-19 pandemic, Duluth Holdings Inc. has temporarily closed all of its stores nationwide. There are more than 60 locations of Duluth Trading Co. The company did not disclose a timeline for when the stores will reopen. The Wisconsin-based retailer of casual wear and workwear will support sales associates with two weeks of pay. Approximately 50 percent of Duluth Trading’s sales are generated through its website and shipped directly to customers from its distribution centers. The company plans to keep these facilities open with “heightened concern for employee health and safety.”
LAWRENCE, KAN. — NorthMarq has arranged the sale and financing of both Country Club on the 6th and Eagle Ridge Apartments in Lawrence. The combined $25 million in volume represents the buyer’s first acquisitions in the collegiate town, which is situated just outside of Kansas City and home of the University of Kansas. Country Club on the 6th features 254 units while Eagle Ridge is home to 148 units. Jeff Lamott and Gabe Tovar of NorthMarq represented the sellers on both transactions. Brett Hood of NorthMarq arranged acquisition financing through Freddie Mac on behalf of the buyer.
EUREKA, ILL. — Marcus & Millichap has brokered the sale of Enchanted Gardens Mobile Home Park, a 152-lot manufactured home community in Eureka, about 20 miles east of Peoria. The sales price was undisclosed. The community, situated at 508 Reagan Drive, features convenient access to Route 24 and I-74. Andrean Angelov, Ryan Engle and Brad Kreppel of Marcus & Millichap marketed the property on behalf of the seller, a private investor. The team also secured and represented the buyer, a private investor.
ILLINOIS — In order to maximize COVID-19 containment, on Friday, March 20, Illinois Governor J.B. Pritzker issued a statewide “shelter in place” directive in effect until Tuesday, April 7. Under this order, only “essential” businesses and employees are allowed to leave their homes. First responders, emergency management personnel, law enforcement personnel, healthcare workers and others working to support essential businesses and essential government functions like grocery stores and pharmacies are exempt from the order. In addition, local government units across the state are ordered to halt all evictions and ban gatherings of more than 10 people. On Sunday, the Illinois Department of Public Health announced 296 new cases of coronavirus disease in the state and three deaths. The total number of cases in Illinois has risen to 1,049 cases within 30 counties.
KALAMAZOO, MICH. — Sportsman’s Warehouse Holdings Inc. has entered into an agreement with Dick’s Sporting Goods Inc. to acquire a Field & Stream store in Kalamazoo. The store will be rebranded as Sportsman’s Warehouse. The company is also purchasing a Field & Stream store in Crescent Springs, Kentucky, and the total purchase price of $5 million for both stores will be funded through borrowings under Sportsman’s revolving credit facility. Sportsman’s will sublease the two locations from Dick’s and the transactions are expected to close this month. Field & Stream is a retailer of hunting, fishing, camping and outdoor recreation merchandise that is a subsidiary of Dick’s. Sportsman’s says the acquisitions are consistent with its “growth strategy of opportunistically expanding its store footprint in strong markets with well-established customer bases.”
FORT WAYNE, IND. — As a result of COVID-19, Vera Bradley Inc. has temporarily closed all of its full-line and factory stores through Thursday, April 2. Store associates will be compensated through that date. The Fort Wayne-based handbag retailer will continue to serve its customers through its website. Vera Bradley also postponed its annual outlet sale, traditionally slated for April in Fort Wayne. The company says it is also “addressing day-to-day operations, including reducing expenses, inventory levels and capital spending.”
CHICAGO — First Western Properties has brokered the sale of an 11-unit multifamily building located at 1712-1716 W. 87th St. in Chicago’s Beverly neighborhood. The sales price was undisclosed. The property includes 10 paved parking spaces. Paul Tsakiris and Melsi Bifsha of First Western brokered the transaction. Buyer and seller information was not disclosed.
CHICAGO —Much Shelist is among the first law firms to donate to the Chicago Small Business Resiliency Loan Fund, a new initiative by the city of Chicago to support local businesses devastated by the COVID-19 crisis. Much, a full-service law firm, has donated $25,000. Mayor Lori Lightfoot announced the fund Thursday, March 19. It will provide targeted, low-interest loans to highly impacted small businesses. Much has called Chicago home for 50 years.