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A&G to Auction Eight Party City Leases

by Hayden Spiess

New York City — A&G Real Estate Partners will auction eight Party City leases in its capacity as real estate advisor to the retailer. These leases — which include locations in Georgia, Iowa, Illinois, Louisiana, Michigan, New York, Texas and West Virginia — come in addition to 12 Party City leases announced for auction by A&G in late February. Ranging in size from 7,500 to 28,000 square feet, 18 total leases remain open. This move is part of Party City Holdco Inc. (PCHI)’s financial restructuring, which is expected to be …

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DevelopmentMichiganMixed-useNews

Bedrock Plans 1.5 Million-Square-Foot Cadillac Square Mixed-Use Development in Detroit

by Hayden Spiess

Detroit —Bedrock has unveiled plans for Development at Cadillac Square, a 1.5 million-square-foot mixed-use campus in downtown Detroit. The site is located near Ford Field, home of the NFL’s Detroit Lions, as well as Campus Martius Park and Cadillac Square. The development will feature residential, retail, office and entertainment space, as well as parking. Bedrock is owned by billionaire and Rocket Cos. founder Dan Gilbert, who with his companies has invested $5.6 billion in the purchase and rehabilitation of buildings in downtown Detroit, according to Forbes. Gilbert himself boasts a …

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Investment salesMichiganNet leaseNews

Marcus & Millichap Arranges $4.7 Million Acquisition Financing for Single-Tenant Retail Property in Metro Detroit

by Hayden Spiess

Northville, MIch. — Marcus & Millichap Capital Corp. (MMCC) has arranged a $4.7 million loan for the acquisition of a single-tenant building in Northville, a northwest suburb of Detroit. Built in 2015, the 28,780-square-foot property is occupied by Fresh Thyme Market. Chad O’Connor of MMCC secured the financing on behalf of the undisclosed borrower. The 10-year fixed-rate loan carries a 30-year amortization schedule.

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Investment salesMichiganNews

Northmarq Arranges $2.6 Million Sale of Single-Tenant Property Near Ann Arbor, Michigan

by Hayden Spiess

Ypsilanti, Mich. — Northmarq has arranged the $2.6 million sale of a single-tenant retail property located in Ypsilanti, roughly 8 miles southeast of Ann Arbor. AMERCO Real Estate Co. acquired the property, which sits on 11 acres and totals 91,743 square feet. The building was formerly leased to At Home. Isaiah Harf of Northmarq’s Chicago office represented the seller, a New York-based institutional investor, in the transaction.

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DevelopmentLeasingMichiganNewsRestaurants

Domino’s Pizza Signs 1,667-Square-Foot Lease for New Location in Metro Detroit

by Hayden Spiess

Plymouth, Mich. — Domino’s Pizza has signed a lease to occupy 1,667 square feet in Plymouth, roughly 27 miles west of Detroit. The new Domino’s location will partially replace a former AT&T store, which is currently being redeveloped into a two-tenant retail building. Michael Murphy and Tjader Gerdom of Gerdom Realty and Investment, a commercial real estate agency based in Northville, Michigan, represented Domino’s in the transaction. Gregory Mallory of Armada Real Estate, based in West Bloomfield, Michigan, represented the landlord.

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LeasingMichiganNews

Burlington to Open 25,755-Square-Foot Store at West Oaks Shopping Center in Metro Detroit

by Hayden Spiess

Novi, Mich. — Burlington has signed a 25,755-square-foot retail lease to open a new store at West Oaks shopping center in Novi, approximately 30 miles northwest of Detroit. Michael Murphy and Tjader Gerdom of Gerdom Realty & Investment represented the landlord, RPT Realty. Brad Gersham of GP Rep Services represented the tenant. Anchor tenants at West Oaks include Kohl’s, Bob’s Furniture and Gardner White.

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LeasingMichiganNews

Crossfit Maven Signs 17,123-Square-Foot Lease in Metro Detroit

by Hayden Spiess

Rochester Hills, Mich. — Fitness concept Crossfit Maven has signed a 17,123-square-foot lease at Winchester Center in Rochester Hills, approximately 30 miles outside of Detroit. Michael Murphy, Bill McLeod and Tjader Gerdom of Gerdom Realty & Investment represented the landlord, RPT Realty. John Salsberry of Colliers represented the tenants. Winchester Center, anchored by Dick’s Sporting Goods, Marshall’s and Burlington, is located on Rochester Road just south of Avon Road.

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LeasingMichiganNews

Millennial Collection to Open 1,600-Square-Foot Store in Detroit Suburb

by Hayden Spiess

Sterling Heights, Mich. — Millennial Collection, a trading card and gaming store, has signed a lease for 1,600 square feet at Brookside Shopping Center in Sterling Heights, a suburb of Detroit. The tenant will occupy space formerly home to an arcade. Michael Murphy and Tjader Gerdom of Gerdom Realty & Investment represented the undisclosed landlord in the lease.

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Investment salesMichiganNews

Clean Hub Car Wash Buys 4,700-Square-Foot Retail Building in Metro Detroit

by Hayden Spiess

Oxford, Mich. — Clean Hub Car Wash has purchased a 4,700-square-foot retail building at 153 S. Washington St. in Oxford, about 40 miles north of Detroit. Barry Landau of Dominion Real Estate Advisors LLC represented the seller, DJG Properties LLC. Jordan Jabbori of CMP Real Estate Group represented Clean Hub Car Wash, which currently operates out of Sterling Heights and has three new locations scheduled to open in the near future.

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