Fairlane Meadows retail center in the suburban Detroit community of Dearborn, Michigan has been acquired by New York-based Times Equity for $20.6 million.
The 157,225-square-foot center is located at the southeast corner of Ford Road and Mercury Drive in Dearborn Mich., just north of the World Headquarters of Ford Motor Company The center includes tenants Best Buy, Citi Trends, David’s Bridal, Five Below and Dollar Tree, and is shadow anchored by Target and Burlington Coat Factory.
Mid-America Real Estate Corporation Principal Ben Wineman, in cooperation with Mid-America Real Estate Group – Michigan, LLC Principal Daniel Stern, was the exclusive broker in the transaction on behalf of the seller, Farmington Hills Mich. – based Ramco-Gershenson Properties Trust.
