Marcus & Millichap closed the sale of a retail shopping strip center in Sterling Heights, Michigan.
Darin Gross, Ashish Vakhariya and Seth Haron, investment specialists in Marcus & Millichap’s Detroit office, facilitated the transaction on behalf of the buyer and seller.
The property consisted of 59,396 square feet, anchored by a craft mall tenant leasing at below market rent. National tenants include Dollar General, Jimmy John’s and Paul Mitchell the School. The property is positioned at the intersection of Van Dyke Avenue and 18 Mile Road in Sterling Heights, which is the second largest suburb in metropolitan Detroit. The site is also within immediate proximity of the Ford Motors Electric Powertrain Center, which employs 1,050 people.
In the past 24 months, Darin Gross, Ashish Vakhariya and Seth Haron have sold or have under contract to sell $143 million of retail and medical office investment properties throughout numerous states spanning the Midwest and beyond.
