Colliers International|West Michigan recently closed the sale of a 91,361-square-foot shopping center at 7500 Cottonwood Drive SW in Jenison, a city in the Grand Rapids, Michigan, area.
A California-based investor, ET102 LLC, purchased the shopping center for $5.25 million.
The fully-leased shopping center is anchored by Rebounderz, a 54,000-square-foot indoor trampoline and recreation facility that opened in 2016. It is also home to a Dollar Tree, AutoZone and Mel Trotter Ministries thrift store. The shopping center was the former site of a Handy Andy and a Hobby Lobby.
The new owners have plans to bring to market an outlot on the southwest corner of the property.
Michael Visser and Earl Clements with Colliers represented the seller, Spirit Realty Capital, a publicly traded REIT based in Dallas, on the transaction.