Press Releases
Marcus & Millichap Arranges The Sale Of A Kroger Shadow Anchored Retail Center In Brownstown, MI
January 12, 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 Dollar Tree Center, a 30,014-square foot multi-tenant retail property located in Brownstown Charter Township, MI, according to Steven Ross Chaben, regional manager of the firm’s Detroit office. The asset sold for $4,800,000.
Ashish Vakhariya, Seth Haron, and Darin Gross, investment specialists in Marcus & Millichap’s Detroit office facilitated the transaction on behalf of the seller. “The shopping center was shadow anchored by a Kroger with nearly 38 percent of the GLA occupied by Dollar Tree. Other key drivers included upside potential through future lease-up and location in a strong-growth market.” says Ashish Vakhariya, First Vice President Investments & Director, National Retail Group/Net Leased Properties Group. “Our marketing efforts resulted in multiple offers, demonstrating strong investor demand for this asset class.”
In the past twenty-four months, Ashish Vakhariya, Seth Haron, and Darin Gross have sold or have under contract to sell, $175.6 Million of retail and medical office investment properties throughout numerous states spanning the Midwest and beyond.
