Press Releases
MARCUS & MILLICHAP CLOSES POWER CENTER SALE IN SUBURBAN DETROIT
April 1, 2025Marcus & Millichap Closes Power Center Sale in Suburban Detroit
CANTON, Mich., April 1, 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 the Willow Creek Shopping Center, a 161,626-square-foot power center in Canton, Michigan. The asset traded for $23.8 million.
“Shadow-anchored by Michigan’s only IKEA, the property is 100% occupied by eight tenants operating on long-term triple-net leases,” said Ashish Vakhariya, Senior Vice President Investments in Marcus & Millichap’s Detroit office. Vakhariya, Darin Gross, and Seth Haron of Marcus & Millichap represented the seller and procured the buyer. “The average tenant tenure at the center is over 11 years and two of the original tenants, Michaels and Marshalls, are the top-ranked locations in Michigan,” said Gross.
The power center is in Canton’s main retail corridor, close to Interstate 275, which sees 115,240 vehicles per day. There is 14.6 million square feet of retail within a five-mile radius occupied by retailers including Target, BJ’s Wholesale Club, Lowe’s, Kohl’s, Meijer, Walmart, Sam’s Club, Home Depot, and Hobby Lobby. The population within a five-mile radius is over 221,245 and the average annual household income is more than $110,000.
Willow Creek Shopping Center was built on 18 acres in 2004. In addition to Michaels and Marshalls, the tenants are Dunham’s, Crate & Barrel, Dollar Tree, Kirkland’s, Five Below, and Direct Optical of Canton.
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About Marcus & Millichap, Inc. (NYSE: MMI)
Marcus & Millichap, Inc. is a leading 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.
