Lake Orion and Macomb Township, Mich. — Meijer has opened two stores featuring a new, condensed layout in the Detroit suburbs of Lake Orion and Macomb Township. The stores, which comprise between 75,000 and 90,000 square feet each, include produce, in-store meat cutters, a bakery with cake decorators, full-service deli, in-store and drive-thru pharmacy, health and beauty products, card and party supplies, a floral section and baby, pet and household items. The stores also offer the same checkout methods and shopping technology available at other Meijer locations.
Michigan
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 …
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 …
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.
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.
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.
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.
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.
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.