CBRE|Martin (CBRE) announced the sale of a 4.165-acre vacant parcel on Central Park Drive in Okemos. Shawn H. O’Brien of CBRE represented the seller, South Park LLC, in the sale. OKERE NE LLC, d.b.a. Graff Chevrolet, purchased the property for an undisclosed amount. This is the third property sale this year that CBRE has assisted South Park LLC partner Robert Phipps.
In a second transaction, O’Brien and Eric Rosekrans represented seller Case Credit Union on the sale of 3010-3018 Wood Road in Lansing. The buyer, Stellar Hospitality Lansing LLC, purchased the 3.6-acre property for an undisclosed amount. The Wood Road sale comes shortly after the announcement of plans to extend Coleman Road as an underpass of U.S. 127 to reach Wood Road. That news brings a renewed enthusiasm to available property and proposed developments on both sides of the interstate.