Press Releases
Marcus & Millichap Arranges the Sale of a Kroger & Big Lots Anchored Retail Center in Jackson, MI
September 8, 2023Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, has announced the sale of a multi-tenant, grocery anchored retail center in Jackson, MI, according to Steven Ross Chaben, regional manager of the firm’s Detroit office. The asset sold for $8,000,000.
Ashish Vakhariya, Seth Haron, and Darin Gross, investment specialists in Marcus & Millichap’s Detroit office, facilitated the transaction on behalf of the buyer and seller. “The property was anchored by Kroger and Big Lot, accompanied by a mix of local/regional tenants. The Kroger store has a long history of year-over-year sales growth.” says Ashish Vakhariya, Senior Vice President Investments & Director, National Retail Group/Net Leased Properties Group. “The asset’s exceptional location and highly sought after grocery anchor drove strong investor interest. Our marketing efforts generated multiple offers, procuring an all-cash buyer, and resulted in a short escrow timeframe.”
In the past twenty-four months, Ashish Vakhariya, Seth Haron, and Darin Gross have sold or have under contract to sell over $233.9 Million of retail and medical office investment properties throughout numerous states spanning the eastern half of the U.S. and beyond.
About Marcus & Millichap (NYSE: MMI)
With nearly 2000 investment sales and financing professionals located throughout the United States and Canada, Marcus & Millichap is a leading specialist in commercial real estate investment sales, financing, research and advisory services. Founded in 1971, the firm closed 12,272 transactions in 2022 with a value of approximately $86.3 billion. Marcus & Millichap has perfected a powerful system for marketing properties that combines investment specialization, local market expertise, the industry’s most comprehensive research, state-of-the-art technology, and relationships with the largest pool of qualified investors. To learn more, please visit: www.MarcusMillichap.com.
