Dominion Real Estate Advisors market new Burton-Katzman industrial park l 1.2M SF – Chesterfield Commerce Center

Burton-Katzman has announced it has site-plan approval for 66 acres of land within an existing business park along I-94 in Chesterfield Township.

March 18, 2019 | by R.J King | dbusiness.com

Burton-Katzman in Bingham Farms, which invests, develops, and manages industrial, commercial, and residential properties across the country, has announced it has site-plan approval for 66 acres of land within an existing business park along I-94 in Chesterfield Township. The property can accommodate almost 1.2 million square feet of space.

Along with a sister company, Dominion Real Estate Advisors, the companies say available parcels start at 50,000 square feet and go up to 758,000 square feet for permitted uses that include distribution, industrial, and light manufacturing operations. An Amazon distribution center is nearby, while Ashley Capital, a multi-faceted real estate firm, has sold neighboring parcels in the Chesterfield Commerce Center.

The Burton-Katzman property is available in three separate parcels — up to 177,920 square feet on 10 acres; up to 215,000 square feet on 16 acres; and up to 758,000 square feet on 41 acres. The Chesterfield Commerce Center is located on the south side of I-94, between 23 Mile and 24 Mile roads. Construction is scheduled to start in the fall.

“The supply of new industrial property, along with the opportunity to renovate closed manufacturing centers, has been going down as the result of what is a robust economy,” says Eric D. Banks, group president of brokerage and advisory services at Dominion. “We are in a good position in that we have property that is ready to go.”

According to a January report by Newmark Knight Frank, a full-service real estate firm with offices in Farmington Hills, the region’s industrial vacancy rate was around 3.3 percent during the fourth quarter of 2018. Investments in electric and autonomous vehicles continue to spur construction and expansions in the market.

In addition, Burton-Katzman and Dominion are close to completing a 110,000-square-foot industrial building in Auburn Hills, just north of the former Pontiac Silverdome site. The space is close to being fully leased.

In Wixom, the companies have 85,000 square feet of industrial space along Beck Road on the market (north of I-96), and they recently completed work on industrial space for Tremec Corp., which manufactures automatic transmissions and drivetrain components.

Burton Katzman also plans to offer a new industrial park in Lyon Township that would accommodate up to 505,000 square feet of space.

For more information, contact Andrew Boncore, vice president of business development and brokerage at Dominion Real Estate Advisors, 248-399-9999 or aboncore@dominionra.com.

New Mixed-Use Retail Center Approved for 901 Tower Drive in Troy

The City of Troy Planning Commission approved a new 9,844 square foot mixed-use retail center.

The City of Troy Planning Commission approved a new 9,844 square foot mixed-use retail center at their regularly scheduled hearing on January 22, 2019. The development project is located at the south-east corner of Tower Drive and Crooks Road in a portion of the parking lot of the 901 Tower office building.

“This new development will certainly add to the excitement and desirability of the North Troy office area, and our adjacent office tower,” said Larry Goss, Dominion/BK Executive Vice President of Development Services, who represented the owners of the 901 Tower office building at the Planning Commission hearing.

The property was rezoned in late 2017 to the OM Office Mixed Use District, which is intended to bolster this high-traffic business and employment hub along Crooks Road with an attractive and vibrant mix of convenient amenities for residents and office users in the area. The 2017 Troy Master Plan designated this corridor as part of the “Northfield/north troy” area, encouraging this type of development. Since the zoning update, several new developments are under construction along this busy thoroughfare.

Eric Banks; Principal and Group President, Brokerage Services at Dominion adds; “Today’s workers expect greater connectivity, convenient amenities, and local vitality that comes from these types of uses, clustered in beautiful, pedestrian-friendly scale. That’s exactly what is being delivered here.”

The stunning architecture was designed by NORR Architects, Engineers, and Planners, and offers an elegant yet modern motif with clean lines and a bold mix of building materials, featuring a color palette of greys and browns with split face CMU and siding designed to look like wood, with metal accents. Both the highly visible front elevation on Crooks Road and the east facing rear elevation, are architecturally attractive.  The nearly 10,000 sq. ft are currently envisioned for up to 3 “fast-casual” restaurants, 2 with outdoor dining areas, and an additional commercial services tenant. The project was also granted a coveted drive-thru serving one of the fast-casual tenants after meeting the Planning Commission’s high standards required for the Special Land Use approval of the drive-thru. Parking for customers is conveniently located in both the front and behind the building. A new pedestrian path along Crooks Road will connect from the retail center to the existing sidewalk, as well as to the 901 Tower office building.

Now that the center is approved, pre-leasing efforts will begin. Construction could start as early as Summer 2019.

Burton Katzman Real Estate

Longtime CRE Pros Form New brokerage in Detroit Area 

CRE veterans this month combined their forces to form new commercial real estate firms in Bingham Farms, Michigan: Dominion Real Estate Advisors and Dominion Realty Services.

The principals of Dominion are Peter Burton, Robert Katzman, Larry Goss, Eric Banks and Andy Boyce. This group comprised a majority ownership of CORE Partners Associates and CORE Construction Services, both of which are winding down because of differences in strategic vision and alignment among the former principals.

The new firms will provide brokerage, consulting, property management, asset management, receivership, construction and development advisory services.

Dominion operates a more than 7-million-square-foot commercial, industrial, multifamily, retail and association management portfolio. This ranks Dominion as one of the largest privately held full-service platforms in the metro Detroit market.

Dominion’s principals are currently involved in more than 2 million square feet of ground-up light industrial, mixed-use and multifamily developments in the Detroit area.

Burton Katzman Real Estate

Construction Starts on $2.5 Million Luxury Apartments in Birmingham

The luxury apartments will be across from the Birmingham YMCA, overlook St. James Park and be in walking distance to downtown Birmingham.

Floyd Street is a joint venture of Peter Burton, Robert Katzman and Larry Goss, and private equity firm Juniper Capital Partners LLC based in Los Angeles.

The $2.5 million development at 1193 Floyd St. is slated to be completed in the fall, said Jennette Smith Kotila, Core Partners LLC spokeswoman. Michael Poris of Birmingham-based McIntosh Poris Associates Inc. is the designer and Core Construction Services LLC, the brokerage and construction services arm of Bingham Farms-based Core Partners, is the general contractor.

The Park will offer four 811-square-foot one-bedroom units and four 1,140-square-foot two-bedroom units costing $2,000-$3,000 a month. The one-bedroom units will be on the ground floor and feature a patio, while the two-bedroom units will feature a balcony and a mezzanine that overlooks the living room, Core Construction Services Vice President of Project Development Dane Truscott said. Each unit will have high-end finishes and modern architectural features, he said.

The 8,905-square-foot project will not include any common space as each unit will have its own front door, Truscott said.

The luxury apartments will be across from the Birmingham YMCA, overlook St. James Park and be in walking distance to downtown Birmingham

Burton Katzman Real Estate

CORE Partners, Burton-Katzman Acquire 119,000-square-foot Industrial Building in Detroit Market

The property, located at 1426 Pacific Drive, sits on 10.54 acres in a prominent industrial park visible from Interstate-75. It is a single-tenant light industrial manufacturing facility currently occupied by BAE Industries. BAE Industries provides metal manufacturing services. The company has been at this location for 15 years.

The acquisition of this property builds upon the CORE-BKG Investment portfolio. CORE Partners Associates LLC has been engaged by ownership to manage the property.

Burton Katzman Real Estate

CORE Partners, Burton-Katzman Make Major Office Acquisition in Michigan

CORE-BKG acquired 21001 and 21111 Van Born Road. The site includes a 415,606-square-foot Class-A office building and a 141,000-square-foot technical building and warehouse. The purchase price was not disclosed. Masco, a home- and building-products manufacturer, recently relocated to a smaller facility in Livonia, Michigan.

The former Masco campus was built in phases starting in 1966 and expanded into the early 1990s. The campus includes an auditorium, wellness center, full-service cafe and fitness center.

Burton Katzman Real Estate

New Rusty Bucket Restaurant Opens in Bingham Farms
Burton-Katzman announced that the Rusty Bucket Restaurant and Tavern is celebrating its fourth Michigan location with a grand opening, Thursday, Aug. 6. The restaurant is in Bingham Farms at 30450 Telegraph Road. The building was developed by Burton-Katzman and built by Core Construction Services, a related affiliate.

Rusty Bucket’s Bingham Farms location is 5,500-square feet with seating for 78 guests in the main dining room and a bar area which seats 58. There is a 770 square foot four-season patio with a stonewall fireplace, which seats an additional 54 guests. This marks the 19th location for the growing Columbus, Ohio-based restaurant company.

Burton Katzman Real Estate

Burton-Katzman and DevMar Team Up on New Luxury Lofts in Plymouth
It’s been more than a decade since the last new apartment development in Plymouth, but pent-up demand for high-end rental housing is causing developers to end that skid.

Deferred demand for high-quality new rental housing in western Wayne County, following a long construction drought, has spurred the first all-new apartment complex there since 2004, with 93 luxury units expected to land in Plymouth, at 333 Plymouth Road near Holbrook, via Starkweather Lofts by next August.

Targeting millennial and baby boomers as prime tenants, project co-developers DevMar Development LLC and Burton-Katzman LLC of Bingham Farms say higher incomes in Plymouth, Northville and Livonia now support rental rates topping $2 per square foot, which makes traditional lenders more willing to finance projects.

That would usher in new construction for the first time since the 111-unit Hidden Cove Estates project wrapped in 2004 as the latest high-occupancy residential development in those communities. Renters both young and old are in the market for high ceilings, wood floors, granite countertops and other features.

Burton Katzman Real Estate

Genesys Health Care Selects Burton-Katzman/Wellbridge Team for New CCRC
Genesys Health Care System has selected the team of Burton-Katzman and Wellbridge to develop a 34-acre parcel adjacent to the Regional Hospital into a master planned Continuum of Care Residential Community ( CCRC).

The first phase of the project is currently underway with land development activities on the site. The first building will be a 112-bed rehabilitation facility owned and operated by Wellbridge. Burton-Katzman and Wellbridge will co-develop the first phase as well as the two additional planned phases for assisted living and independent living apartments. CORE Construction Services is the construction manager of the land development activities.

Burton Katzman Real Estate

Burton-Katzman Receives Site Plan Approval for New 78 Acre Light Industrial Project In Romulus, MI
Burton-Katzman, LLC received site plan approval for a new 78-acre light industrial park in Romulus, MI. The park is designed to accommodate 5 buildings, which range in size from 142,987 sq. ft. to 220,000 sq. ft. for a combined 838,000 sq. ft.

The recent change in the local zoning ordinance to M-2, and the upgrading Wahrman Road to a Class A road, has opened up the opportunity to provide logistics facilities on this property. Plans call for site development to begin in Summer 2016.

Burton Katzman Real Estate

Peter Burton Featured On Midwest Real Estate Magazine Titans Panel
Peter Burton was invited to be a guest speaker on the “Real Estate Titans” panel at the 2016 Midwest Real Estate News Magazine’s Detroit Summit on February 25, 2016.

The event, one of the largest and most widely attended in the Detroit Metropolitan area, features top names in the Commercial Real Estate Industry.

Burton Katzman Real Estate

River’s Edge Project Receives Approval in Auburn Hills
The Auburn Hills City Council has approved a plan for a $10 Million mixed-use development at the southwest corner of Auburn and Squirrel roads, the city announced today.

Called River’s Edge of Auburn Hills, the new development by Burton-Katzman, LLC will consist of a four-story building with approximately 9,300 square feet of commercial space and 31 apartment and loft units.

The Planned Unit Development is slated to begin construction in late 2014 or early 2015.