Stadium Village Flats in Minneapolis
is refinanced to the tune of
$21 million.

MINNEAPOIS, MN-Harrison Street Real Estate Capital LLC secured a $21.5 million, fixed-rate, 10-year loan for the 120-unit, 235-bed Stadium Village Flats. HFF‘s Chicago office arranged for financing through Federal Home Loan Mortgage Corp.’s (Freddie Mac) CME Program.

Stadium Village Flats at 850 Washington Ave. SE serves the University of Minnesota’s main campus in the Stadium Village neighborhood. The recently completed student housing property is 100% occupied. The property includes 19,175 square feet of ground-floor retail space, which is 100% leased to CVS, Noodles & Co. and Dino’s Gyros. Community amenities include fully furnished units, state-of-the-art theater room, 24-hour fitness center, yoga studio, computer lab, gaming center and penthouse-level sky lounge.

HFF managing directors Timothy Joyce and Stephen Skok led the team representing the borrower in this transaction.

 


ACQUISITIONS/DISPOSITIONS

 

DETROIT

  • Harmiz Toma Zatouma acquired 5,000 square feet at 20515 Mound Rd. NAI Farbman’s Brian Crawford and Harold Stulberg represented the seller, Natasha LLC.

LIVONIA, MI

  • Alberici Group Inc. sold11.4 acres at 30980 Industrial Rd. Gary R. Glotzhober and Adam Manix of Colliers International represented the seller in this transaction.

MUSKEGON HEIGHTS, MI

  • High Grade Concrete Products Co. acquired a 30,883-square-foot industrial building at 775 E. Sherman Blvd. Bryan Bench, of Signature Associates represented the seller, Westblock LLC, and the buyer.

PITTSFIELD TOWNSHIP, MI

  • Pondview Properties  acquired 33,040 square feet at 5075 Venture. NAI Farbman’s Doug Fura represented the seller, Hyundai America.

PONTIAC, MI

  • Tianhai Electric  acquired 28,000 square feet at 70 E. Silverdome Industrial Park. NAI Farbman’s Jeff Cavazos, Laney Cavazos and Paul DeBono represented the seller, Berkadia.

SHELBY TOWNSHIP, MI

  • Detroit Metropolitan Credit Union bought 1.70 acres at 45825 Hayes Rd. Viktor Gjonaj of Signature Associates represented the seller, GS Rousullian LLC.

WARREN, MI

  • Liquid Sun acquired 8,500 square feet of industrial space at 6781 Maxwell Ave. Ben Wilkiemeyer and Peter Walocko of Signature Associates represented both the seller, See Eyewear, and the buyer.

WESTLAND, MI

  • Weyerhaeuser sold its former 86,820-square-foot lumber distribution facility at 1550 Superior Pkwy. Gary R. Glotzhober with Colliers International represented the owner, Weyerhaeuser NR Company and the buyer, Jack Rea LLC in this transaction.

 


DEVELOPMENT

 

OMAHA, NE

  • Opus Development Corporation and The Gavilon Group broke ground on the latter’s new 127,000-square-foot world headquarters office in the CBD. The class A office building will accommodate Gavilon’s Omaha-based employees and support the company’s future growth. Building completion is anticipated by December 2013. Opus Design Build LLC. is serving as the design-builder on the project. Open Studio Architecture is the design architect for the project with Opus AE Group, Inc. serving as architect and engineer of record. Perkins + Will is designing the interior improvements, and ESD is the M/E/P engineer of the enhanced systems for the office’s core operations.  Paul LaFave and David Maenner of CBRE MEGA represented Gavilon as tenant representatives, and Sam Garden of CBRE MEGA will serve as the tenant project manager during the building’s design and construction phases. Robert Peters of Robert Peters Company is engaged as a civic consultant for the project’s public interactions.

 


LEASING

 

BLOOMFIELD HILLS, MI

  • Speedway LLC leased 525 square feet at 10 Square Lake Rd. Brad Viergever and Garrett Keais of Signature Associates represented the tenant.

BINGHAM FARMS, MI

  • Oakland Office Group Inc. leased 1,283 square feet at 30600 Telegraph Rd. NAI Farbman’s Sheila Fogarty represented the landlord, Bingham Associates LLC.

Insurable Interests leased 793 square feet at 30800 Telegraph Rd. NAI Farbman’s Sheila Fogarty represented the landlord, Bingham Center LLC.

BYRON CENTER, MI

  • Airport Freight X-Change, LLC leased 25,900 square feet of industrial space at 1144 73rd St. Cathy Bottema of Signature Associates represented the landlord, 1144 P & P LLC.

CHICAGO

  • Anchor Behavioral leased 721 square feet at 79 West Monroe. NAI Farbman’s David Lautenbach represented the landlord, Bell Acquisition LLC.
  • Kallen Realty Services leased 1,202 square feet at 205 W. Randolph. NAI Farbman’s David Lautenbach represented the landlord, Randolph Acquisition LLC.
  • Polsinelli Shughart’s Chicago office expanded to 60,000 square feet in the Chicago Title and Trust Building, 161 N. Clark St.  With the transaction, Polsinelli gained an additional 18,000 square feet to accommodate its growing Chicago office.

COMMERCE TOWNSHIP, MI

  • Greich Landscape Inc. leased 8,100 square feet at 1801 Rock Rd. NAI Farbman’s Doug Fura represented the landlord, CB Creedmore Industrial LLC.

DETROIT, MI

  • Ann Hidebrandt & Ira G. Harris leased 1,193 square feet at 65 Cadillac Square. NAI Farbman’s Paul DeBono represented the landlord, Cadillac Tower MI LLC.

DUPAGE, IL

  • Adex Corp. leased 1,085 square feet at 280 Shuman Blvd. NAI Farbman’s David Lautenbach represented the landlord, Atrium Acquisition LLC.

FARMINGTON HILLS, MI

  • Link Roadways Inc. took down 3,300 square feet at 24798 Crestview. NAI Farbman’s Brian Crawford represented the landlord, Sala Arie – Sala Sills.
  • The Crohn’s and Colitis Foundation of America  leased 1,150 square feet at 25882 Orchard Lake Rd. NAI Farbman’s Ron Goldstone represented the landlord, Civic Center Office Plaza LLC.

FLINT TOWNSHIP, MI

  • Flint Barbell leased 4,500 square feet at 4520 Linden Creek Pkwy. NAI Farbman’s Jeff Cavazos and Laney Cavazos represented the landlord, 4520 Linden Creek Parkway LLC.
  • Spohn Construction leased 5,051 square feet at 4520 Linden Creek Pkwy. NAI Farbman’s Jeff Cavazos and Laney Cavazos represented the landlord, 4520 Linden Creek LLC.

GRAND BLANC, MI

  • Family Community Credit Union leased 612 square feet at One Genesys Pkwy. NAI Farbman’s Donna Cole represented the landlord, Genesys Regional Medical Center.

LIVONIA, MI

  • Pallet Companies Inc. leased 79,432 square feet at 31750 A. Enterprise Dr. NAI Farbman’s Doug Fura represented the tenant. The landlord was Livonia Estates Limited.

MADISON HEIGHTS, MI

  • Solar Solutions International Inc. leased 3,100 square feet at 25315 Dequindre. NAI Farbman’s Brian Crawford represented the landlord, Sapphire Investment Associates LP.

MELVNDALE, MI

  • Savage Services Corp. leased 9,150 square feet at 2947 Greenfield Rd. Brad Viergever of Signature Associates represented both the landlord, Four Star Transportation Co. and the tenant.

NORTHWOOD, OH

  • Therapy Support leased 8,100 square feet at 6610 Fairfield Dr. NAI Farbman’s Brian Crawford represented the landlord, Masters of Northwest Ohio.

NOVI, MI

  • Setco Sales Co. leased 23,762 square feet of industrial space at 41129 Jo Dr. Peter E. Kepic and Peter J. Kepic of Colliers International represented the tenant in the transaction.

ROMULUS, MI

  • TQ Automotive leased 3,000 square feet at 29993 Beverly. NAI Farbman’s Brian Crawford represented the landlord, Robbins Associates.

Empire Today LLC leased 70,680 square feet at 4119 Van Born. NAI Farbman’s Doug Fura represented the tenant. The landlord was Welsh Romulus LLC.

TROY, MI

  • Dynamic Accounting Services Inc. leased 3,285 square feet to at 3310 Big Beaver Rd. NAI Farbman’s Lesley Gutman represented the landlord, Sheffield Owner LLC.
  • El Patio #3 LLC leased 4,440 square feet of retail space at 2883-2999 E. Big Beaver Rd. Viktor Gjonaj of Signature Associates represented both the tenant and landlord, Reed Holdings.

WARREN, MI

  • Rosen Investment Group leased 21,784 square feet of industrial space at 27250 Gloede Dr. Peter Walocko of Signature Associates represented the landlord, Ibis Investment Company. Joe Hamway, also of Signature, represented the tenant.

WIXOM, MI

  • Sugino Corp. leased 1,940 square feet of industrial space at 47677 Avante Dr. Steve Kozak of Signature Associates represented both the landlord, Gateway Management, LLC and the tenant.  
  • VIP Pets leased 9,491 square feet of industrial space at 30515-30549 Century Dr. Steve Kozak of Signature Associates represented the tenant.

 


LEASING/MARKETING ASSIGNMENTS

 

EAST LANSING, MI

  • Signature Associates has been awarded representation of 34.95 acres of vacant land at 3203-3303 E. Coleman Rd. Jack Johns and Bruce A. Morrison of Signature Associates are the listing brokers representing the owner, Flagstar Bank.

MILWAUKEE

  • Holliday Fenoglio Fowler has been named to market the sale of East Pointe Marketplace, a 57,888-square-foot, Pick ‘n Save grocery-anchored shopping center at 605 E. Lyon St. HFF is marketing the property on behalf of the seller, a joint venture between Milwaukee based Northwestern Mutual and Mandel Group.  The HFF investment sales team representing the seller is led by Daniel Kaufman and Amy Sands in the Chicago office, and Jim Batjer and Barry Brown in the firm’s Dallas office.

 


CAPITAL MARKETS

 

BLUE ISLAND, IL

  • A local investor received a Fannie Mae small balance refinance loan of $1.3 million for the 39-unit Longwood Place at 2109-2123W. 119th St. Centerline Capital Group arranged the financing.

CHICAGO

  • Ansonia Properties obtained a $5.2 million Fannie Mae fixed rate loan to acquire the 110-unit Lunt Apartments at 1625 West Lunt Ave. Centerline Capital Group’s Chicago office arranged for financing.

 


EXECUTIVE MOVES

 

COLUMBUS

  • Cassidy Turley hired Kevin McLewee as a property manager at its Columbus office. He joins Cassidy Turley in Columbus from Colliers International’s Baltimore office, where he managed or assisted in managing more than million square feet of industrial/flex, office, retail and mixed use space in Washington, DC, and Maryland. McLewee graduated from Muhlenberg College with a degree in International Business.