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PREIT Opens Woodland Mall Expansion in Grand Rapids, Michigan

by Alex Tostado

Grand Rapids, Mich. — PREIT has opened the Woodland Mall expansion wing. In 2017, the company purchased the store formerly occupied by Sears at the mall. It was demolished in order to make way for new uses. Von Maur now occupies 90,000 square feet at the new wing and is the department store’s first in the region. Other new retailers slated to open at the property include Urban Outfitters, Sephora, White House Black Market, Tricho Salon, Paddle North, Mobile Station and REI, which opened in May. New dining options include …

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Investment salesMichiganNewsRetailers

Gerdom Realty Arranges Sale of 23,900-Square-Foot Retail Property in Livonia, Michigan

by Alex Tostado

Livonia, Mich. — Gerdom Realty & Investment has arranged the sale of a 23,900-square-foot retail and office property in Livonia for an undisclosed price. The two-building asset is located on Middlebelt Road between 5 Mile and 6 Mile roads. Larry Siedell, Michael Murphy and Tjader Gerdom brokered the sale. A local investor purchased the property with plans to complete an exterior renovation. Gerdom will remain as the listing broker.

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IndianaInvestment salesMichiganNewsOhioRetailersWest Virginia

Albanese Cormier Acquires Nine Shopping Centers Totaling 758,983-Square-Foot

by Alex Tostado

Beaumont, Texas — Beaumont, Texas-based Albanese Cormier Holdings has acquired nine shopping centers totaling 758,983 square feet in Indiana, Michigan, Ohio and West Virginia. The purchase prices were undisclosed. ShopOne was the seller. Representatives from May Real Estate, Cooper Commercial Investment Group, Marcus & Millichap and HFF brokered the sales. The average occupancy of the properties is 92 percent. The properties include: Pine Lake Shopping Center (147,017 square feet) in LaPorte, Indiana; Forest Park Plaza (104,231 square feet) in Brazil, Indiana; Phoenix Square (47,415 square feet) in South Haven, Michigan; …

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Investment salesMichiganNewsRetailers

Marcus & Millichap Arranges $5.7 Million Sale of Retail Center in Metro Detroit

by Alex Tostado

Woodhaven, Mich. — Marcus & Millichap has arranged the sale of Woodhaven Village Square for $5.7 million. The 50,414-square-foot retail center is located in Woodhaven, a southern suburb of Detroit. The property is fully leased to Michaels, PetSmart, Cato and Dance Nation. Ashish Vakhariya and Seth Haron of Marcus & Millichap marketed the property on behalf of the seller, a private investor. The buyer was not disclosed.

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LeasingMichiganNewsRetailers

Gerdom Realty Negotiates Two Leases at Retail Center in Novi, Michigan

by Alex Tostado

Novi, Mich. — Gerdom Realty & Investment has negotiated two leases at Thomasville Centre in Novi. Alchile Mexican Grill & Bar and Pho Mai Vietnamese restaurant are the newest tenants to join the center, which is located on Grand River Avenue. Alchile opened this spring, leasing 5,130 square feet. Pho Mai will open during the second half of this year and occupy 1,680 square feet. Joel Karboske of Gerdom represented the landlord, Mclaughlin Family Properties.

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DevelopmentMichiganNewsRetailers

RD Management to Redevelop Shopping Center in Muskegon, Michigan Into Mixed-Use Project

by Alex Tostado

Muskegon, Mich. — RD Management LLC has unveiled plans to redevelop Muskegon Shopping Center located at 3530 Henry St. in western Michigan. The project will include removal of the 134,874-square-foot building formerly occupied by Kmart, renovation of the 32,338 square feet of adjacent retail space and the construction of five residential buildings totaling 126 units. Demolition of the Kmart building will begin in late spring. In addition, Mercy Health has agreed to purchase a 6.2-acre parcel of the shopping center in order to construct a new 40,900-square-foot medical office building …

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DevelopmentMichiganNewsRestaurants

PREIT Adds The Cheesecake Factory to Tenant Mix at Woodland Mall in Grand Rapids, Michigan, as Part of Redevelopment

by Alex Tostado

Grand Rapids, Mich. — The Cheesecake Factory is coming to Woodland Mall in Grand Rapids as part of the repositioning of the regional mall, according to PREIT, the center’s owner. This is the second location in the state of Michigan for The Cheesecake Factory. The first location in the state was in Novi. The restaurant will occupy 8,500 square feet at Woodland Mall and is expected to open in late October. Other new tenants at Woodland Mall include Black Rock Bar & Grill, Von Maur, Urban Outfitters, REI and Tricho …

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