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Tuesday, 13 September 2016 09:47

Metro Detroit real estate firm buys southern Kent County strip mall

Written by  MiBiz Staff
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Metro Detroit real estate firm buys southern Kent County strip mall COURTESY PHOTO

GAINES CHARTER TOWNSHIP — A 21,000-square-foot shopping center in southern Kent County has new owners.

Bingham Farms-based real estate investment and development firm Alrig USA LLC acquired The Crossings strip shopping center at 6333 Kalamazoo Ave. SE, according to a statement.

The firm primarily owns and manages retail shopping centers and office buildings around the state, as well as in Indiana and Ohio, according to its website.

“Alrig USA was drawn to this Starbucks anchored asset because of its dominate (sic) position in a growing retail market, and its close proximity to the M-6 interchange,” Dave Denton, vice president of real estate brokerage at Grand Rapids-based DAR Development Inc., said in a statement. “Together we see long-term value appreciation for this property.”

Denton represented the buyers in the transaction, for which terms were not disclosed.

The sellers, Grand Rapids-based V&V Crossings LLC, were represented by Larry Branscombe of Keller Williams Realty Inc. in Grandville.

Other tenants in The Crossings shopping center include a Penn Station East Coast Subs, Sprint and Bloop Frozen Yogurt.

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