Southfield, Mich. — Friedman Real Estate has brokered the sale of the former Northland Mall in Southfield, a northern suburb of Detroit. The sales price was $11.1 million, according to the Detroit Free Press. Friedman was hired in 2017 to act as the City of Southfield’s real estate consultant and broker to market the redevelopment site. Contour Development was the buyer. Contour plans to build new residences, commercial space and amenities. Contour’s plan includes an adaptive reuse of the former J.L. Hudson Co. department store building into Hudson City Market, …
St. Clair Shores, Mich. — Cohn Commercial Properties has brokered the sale of a former Kroger store in St. Clair Shores, about 13 miles northeast of Detroit. The 51,021-square-foot building is located at 22332 East 9 Mile Road. Harry Cohn of Cohn Commercial, along with CBRE, represented the seller, The Kroger Co. The buyer was St. Clair Retail Management LLC.
Monroe, Mich. — Cohn Commercial Properties has brokered the sale of a former Target store spanning 96,000 square feet in Monroe, about 40 miles southwest of Detroit. The building is located at 2121 N. Monroe St. The sales price and seller were undisclosed. Harry Cohn of Cohn Commercial represented the buyer, Richmond Main LLC, which will occupy the building for its auto parts business.
Novi, Mich. — Crate & Barrel is set to open a new location at Twelve Oaks Mall in the Detroit suburb of Novi. Twelve Oaks Mall is home to 180 specialty stores and 30 restaurants. Crate & Barrel will open its 26,000-square-foot store in June. The new location will showcase the largest kitchen department in the brand’s portfolio. Crate & Barrel Holdings includes lifestyle brands Crate & Barrel, CB2, Crate and Kids and Hudson Grace.
Chesterfield Township, Mich. — Hanley Investment Group Real Estate Advisors has brokered the $2.4 million sale of an Olive Garden ground lease in Chesterfield Township, about 30 miles north of Detroit. The 7,757-square-foot restaurant property, located at 27169 23 Mile Road, opened in the fall of 2020. The single-tenant building is situated on an outparcel directly in front of a Meijer supermarket. Jeff Lefko and Bill Asher, in conjunction with ParaSell Inc., represented the buyer, a Southern California-based 1031 exchange buyer. Phil Sambazis of Marcus & Millichap represented the seller, …
Lansing, Mich. — Kohan Retail Investment Group has acquired Lansing Mall in Michigan for an undisclosed price. The 706,925-square-foot regional mall is located at 5330 W. Saginaw Highway in Lansing. Tenants include JC Penney, Regal Cinemas, Best Buy, Barnes & Noble, TJ Maxx and Shoe Carnival. CBRE’s National Retail Partners Midwest team represented the seller, Brookfield Properties Group.
Petoskey, Mich. — Big Lots has signed a 31,896-square-foot lease at Petoskey Town Center near North Central Michigan College. U.S. Properties (USPG) owns the 174,870-square-foot shopping center. Big Lots will occupy a former Kmart location, filling over 37 percent of the building. Petoskey Town Center is home to tenants including Hobby Lobby, The American Automobile Association, Grondin’s Hair Center and Petoskey Sewing Center.
Bloomfield Hills, Mich. — William Taubman has been promoted to president of The Taubman Company Co. and will retain his role as chief operating officer. William Taubman will continue to report to Chairman and Chief Executive Officer Robert Taubman while leading the company’s development, center operations, leasing and strategic communications functions. Prior to being named president, Taubman served as chief operating officer and as a member of the company’s board of directors. He has also held the positions of executive vice president and vice president of development and acquisitions since …
Detroit — Saucy Brew Works will open a new brewpub and coffeehouse in Detroit’s Brush Park neighborhood. The opening is slated for March 3. The 5,700-square-foot space will be the first restaurant within Bedrock’s City Modern apartment development. Guests will enjoy a variety of beers and specialty coffees in addition to food offerings such as appetizers, sandwiches, wings and pizza. In response to COVID-19, Saucy Brew Works will provide hand sanitizer, masks, six-foot table distancing and floor markers for spacing. Residents of City Modern will receive a 20 percent discount. This …
Bloomfield Hills, Mich. — The Taubman Co. LLC has announced that Executive Vice President and CFO Simon Leopold will depart the company effective Jan. 31. Benjamin Meeker, who currently serves as vice president, capital markets and treasurer, will be promoted to senior vice president, CFO and treasurer. Meeker will report to Robert Taubman, who is chairman, president and CEO. Leopold will remain an advisor to the company to assist with the transition. Taubman is engaged in the management and leasing of 26 regional, super-regional and outlet malls in the U.S. and …