SRS Real Estate Partners completed the $7.6 million sale of Shops at Edelweiss Village, a 51,857-square-foot property at 859 Edelweiss Village Parkway in Gaylord, Michigan.
Built in 2004 and situated on 12.95 acres, the property is 78% occupied and was sold as a value-add opportunity.
SRS Capital Markets Senior Managing Principals Matthew Mousavi and Patrick Luther represented the seller, a Michigan-based family partnership. The buyer was a Michigan-based group of private investors and owners of retail centers throughout the state, and was represented by Kevin Jappaya and David Jappaya of KJ Commercial Real Estate Advisors.
The property’s anchor store is Dollar Tree with other tenants including Pet Supplies Plus, Kay Jewelers, AT&T, and Sally Beauty.
The Shops at Edelweiss Village is situated between Lowe’s and Walmart and is within the city’s prime retail center.
