REAL ESTATE

HopCat acquires brewpub location in Midtown Detroit

BY Michael Fickes

Grand Rapids, Mich. — HopCat has purchased a former restaurant building on Woodward Avenue in Midtown Detroit and plans to open its third Michigan location in August. Mid-America Real Estate – Michigan represented the seller, Midtown Detroit Inc., in the transaction. Mid-America in cooperation with M Retail Solutions represented HopCat. A mass transit stop is planned directly in front of the building.

With 130 taps, the Midtown location will be the largest craft beer bar in the state. The bar will also offer wine, liquor and a full menu.

HopCat’s other two Michigan locations are in Grand Rapids and East Lansing, Mich.

Mid-America Real Estate – Michigan Inc. is a member of Mid-America Real Estate Group and a ChainLinks affiliate. The company is the Midwest’s leading full-service retail real estate organization with offices in Oakbrook Terrace, Chicago, Milwaukee, Minneapolis and Detroit.

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REAL ESTATE

NewMark Merrill awarded best 2013 retail project in Los Angeles

BY Michael Fickes

Baldwin Park, Calif. The Los Angeles Business Journal has awarded NewMark Merrill Companies the Gold level “Best 2013 Retail Project in Los Angeles” for Park Plaza on Maine in Baldwin Park, Calif.

NewMark Merrill carried out a major $2.5 million renovation on the 165,000-sq.-ft. shopping center.

The renovation began in 2011 with the addition of Superior Grocers. The remodeling work included the addition of new pylon and monument signage, new contemporary facades for inline buildings and many common area updates including a new water feature for the outdoor seating area.

The Park Plaza on Maine location adjacent to the City Hall complex and Cruz Baca Transit Center Metrolink Station is integral to Baldwin Park’s goal of revitalizing the Civic Center area as a new main street environment.

“The renovation of the Park Plaza on Maine shopping center is a major step towards the revitalization of downtown Baldwin Park,” said Manuel Lozano, Mayor of Baldwin Park. “We are thankful for NewMark Merrill’s investment in Baldwin Park and encourage every resident to shop at Park Plaza on Maine.”

Superior Grocers and CVS/Pharmacy anchor Park Plaza on Maine. Inline tenants include Chase, Little Caesars, Check N’ Go, O’Reilly Auto Parts, Menchie’s Yogurt, Subway, El Pollo Loco, Allstate Insurance and others.

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REAL ESTATE

Fridley Market renovation will finish in September

BY Michael Fickes

Westmont, Ill. — Tri-Land Properties has announced that it expects to complete a $21 million renovation of its 20-acre Fridley Market community center by September. Fridley Market is located at the intersection of I-694 and University Avenue, the main north/south spine through Minneapolis-St. Paul.

The renovation of the 165,000-sq.-ft. center includes building, infrastructure, lighting and pavement improvements as well as new construction.

Tri-Land engaged longtime tenants Cub Foods and Fridley Liquor Store early in the process by negotiating new long term leases, updating layouts and renovating their spaces. Cub Foods downsized its former 104,000-sq.-ft. space to a new 65,000-sq.-ft. store.

New tenants at the project include Great Clips, a new free standing McDonald’s and a 15,000-sq.-ft. restaurant anchor, Teppanyaki Grill. With the reconfiguring of space, Tri-Land was also able to add two new 10,000-sq.-ft. out parcels and 60,000 sq. ft. of additional junior anchor space constructed between Fridley Liquors and Cub Foods.

Plans for the next phase of Fridley Market are already in place. Tri-Land Properties controls an additional 2.5-acre contiguous parcel on the southern border of the site, and plans to build either 30,000 sq. ft. of additional retail or a limited service hotel, which has already received approval.

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