rss icon

Friday, 13 October 2017 11:25

Jenison shopping center sells for $5.25 million

Written by  MiBiz Staff
Rate this item
(1 Vote)
Jenison shopping center sells for $5.25 million COURTESY PHOTO

GEORGETOWN TOWNSHIP — A fully-leased shopping center in Jenison has sold to California-based ET 102 LLC for $5.25 million.

The center located at 7500 Cottonwood Dr. SW is anchored by a Rebounderz indoor trampoline park and also includes a Dollar Tree, Autozone and Mel Trotter Ministries thrift store, according to a statement.

Brokers in the Grand Rapids office of Colliers International Inc., a commercial brokerage firm, represented both the buyer and the seller, identified in the statement as Spirit Realty Capital Inc., a Dallas-based real estate investment trust (REIT).

The new owners plan to develop and market a new outlot parcel on the southwest corner of the property.

“The buyer was looking for an investment in West Michigan and landed on 7500 Cottonwood because of the long-term tenants and location,” Michael Visser, an associate vice president at Colliers, said in a statement. “As West Michigan continues to grow, we’re finding more outside investors who are interested in breaking into the market by purchasing buildings that already have a strong tenant profile. 7500 Cottonwood was a great opportunity for the buyer to grow their West Michigan presence.”

Read 989 times

Breaking News

September 2018
S M T W T F S
26 27 28 29 30 31 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15
16 17 18 19 20 21 22
23 24 25 26 27 28 29
30 1 2 3 4 5 6

Follow MiBiz