CBRE|Martin recently closed the sale of the Colonial Village Shopping Center in Lansing, Michigan.
Lansing Center Limited Partnership sold the 49,135-square-foot property on 3.57 acres to Parkside-Five Associates. The buyer bought the property for its grocery-anchored investment opportunity.
A 20,100-square-foot Valu Land grocery store anchors the property at 1601-1715 W. Mt. Hope Ave.
National tenants Rite Aid, Family Dollar and PNC Bank occupy the 89-percent leased center.
Shawn O’Brien, senior vice president of brokerage services with CBRE|Martin, represented the seller.