Marcus & Millichap closed the sale of Niles Plaza, a 15,128-square-foot retail property in Niles, Michigan. The asset sold for $2.625 million.
Investment specialists Jesse Limon, Manhattan Office, in conjunction with Damien Yoder and Julia Evinger, Marcus & Millichap’s Indianapolis office, and Steven Chaben, Michigan Broker of Record, had the exclusive listing to market the property on behalf of the seller, a local family investment company.
The buyer, a limited liability company from Las Vegas, Nevada, was secured by the Marcus & Millichap deal team.
Niles Plaza is located at 2010 S 11th St in Niles. The asset is situated along the main retail corridor and only seven miles north of the University of Notre Dame. The property was 100 percent occupied and featured a single-tenant Wings Etc. Outparcel and highly visible strip with Verizon Wireless, Anytime Fitness, Edward Jones, Allied Cash Advance, H&R Block and Joe’s Barber.