Marcus & Millichap recently brokered the sale of a multi-tenant grocery-anchored retail center in Jackson, Michigan. The center sold for $8 million.
Ashish Vakhariya, Seth Haron and Darin Gross, investment specialists in Marcus & Millichap’s Detroit office, facilitated the transaction on behalf of the buyer and seller.
“The property was anchored by Kroger and Big Lot, accompanied by a mix of local/regional tenants. The Kroger store has a long history of year-over-year sales growth,” said Vakhariya, Senior Vice President Investments & Director, National Retail Group/Net Leased Properties Group. “The asset’s exceptional location and highly sought after grocery anchor drove strong investor interest. Our marketing efforts generated multiple offers, procuring an all-cash buyer, and resulted in a short escrow timeframe.”
In the past 24 months, Vakhariya, Haron, and Gross have sold or have under contract to sell over $233.9 million of retail and medical office investment properties throughout numerous states spanning the eastern half of the U.S. and beyond.
