Cooper Commercial Investment Group recently sold Rivertown Center, a 60,876-square-foot multi-tenant center in Grandville, Michigan.
Dan Cooper, president and broker of the Cooper Commercial Investment Group, represented the seller, a private investment group in Ohio. Cooper Commercial also found the Illinois buyer, doing so within the first two weeks of marketing the property for sale.
The center went into contract at an 8.9 percent CAP rate and sold for $7.2 million, 92 percent of list price.
The newer-construction center is 93 percent occupied, with tenants such as Planet Fitness, Qdoba, Noodles & Company, Hallmark and Plato’s Closet.
