Marcus & Millichap facilitated the sale of Village Crossing, a 17-suite retail strip property in Spring Arbor, Michigan. The property sold for $5.475 million.
Darin Gross, Seth Haron and Ashish Vakhariya, investment specialists in Marcus & Millichap’s Detroit office, had the exclusive listing to market the property on behalf of the seller and procured the buyer.
Village Crossing is a 53,900-square-foot, multi-tenant retail center at 7845 and 7851 Spring Arbor Road. The property consists of two buildings on an 8.4-acre lot and is 94.37% occupied, primarily under triple-net leases.
Anchored by Henry Ford Health, which recently extended its lease for five years with annual rent increases, the center offers essential health care services to the local community. It is adjacent to Hutch’s Food Center and Dollar General, with Spring Arbor University one mile away.
