Press Releases
MARCUS & MILLICHAP FACILITATES SALE OF 17-SUITE VILLAGE CROSSING RETAIL CENTER FOR $5.48M
March 10, 2025Marcus & Millichap Facilitates Sale of 17-Suite Village Crossing Retail Center for $5.48M
SPRING ARBOR, Mich., March 10, 2025 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of Village Crossing, a 17-suite retail strip property located in Spring Arbor, Michigan. The property sold for $5,475,000.
“Village Crossing was a retail center with strong historical occupancy but came with challenges as it was in a tertiary market,” said Darin Gross, First Vice President Investments. “Nonetheless, we were able to procure multiple offers and close the deal within 97.27% of our asking price.”
Darin Gross, Seth Haron and Ashish Vakhariya, investment specialists in Marcus & Millichap’s Detroit office, had the exclusive listing to market the property on behalf of the seller and procured the buyer.
Village Crossing is a 53,900-square-foot, multi-tenant retail center at 7845 and 7851 Spring Arbor Road. The property consists of two buildings on an 8.4-acre lot and is 94.37% occupied, primarily under triple-net leases. Anchored by Henry Ford Health, which recently extended its lease for five years with annual rent increases, the center offers essential health care services to the local community. It is adjacent to Hutch’s Food Center and Dollar General, with Spring Arbor University one mile away.
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About Marcus & Millichap, Inc. (NYSE: MMI)
Marcus & Millichap, Inc. is a leading national brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. Marcus & Millichap closed 7,836 transactions in 2024, with a sales volume of approximately $49.6 billion in 2024. The company had 1,712 investment sales and financing professionals in more than 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate at year end. For additional information, please visit www.MarcusMillichap.com.
