Encore Real Estate Investment Services closed the sale of the Miller Linden Retail Center, a four-tenant development that sits as an outparcel to the Genesee Valley Mall in Flint Township, Michigan.
The new-construction retail center is leased to a mix of national and local tenants on staggered triple net leases.
Evan Lyons and Deno Bistolarides represented Lormax Stern, a Southeast Michigan development firm. The buyer was a Northeast-based 1031 investor.
The asset successfully closed within 95 percent of list price, reflecting a top-of-market price-per-square-foot for Flint Township retail exceeding $250 a square foot.
