Michigan

Chesterfield Township, Mich. — Mid-America Real Estate Corp. has arranged the sale of Waterside Marketplace, a 276,244-square-foot retail center located in the northeast Detroit suburb of Chesterfield Township. Tenants at the center, which was 93 percent leased at the time of sale, include T.J. Maxx, Sierra, Burlington, Best Buy, Ulta Beauty, DSW and Old Navy. Ben Wineman, Emily Gadomski and Daniel Stern of Mid-America represented the seller, PMAT Real Estate Investments, in the transaction. Octave Holdings and Investments was the buyer.

Grandville, Mich. — Memphis-based developer Poag Development Group has acquired RiverTown Crossings, a 1.3 million-square-foot enclosed shopping mall located in Grandville, a suburb southwest of Grand Rapids.  The two-story property featured 114 retailers at the time of sale, including Macy’s, Kohl’s, JCPenney, Celebration Cinemas and Dick’s Sporting Goods. The mall first opened in 1999. Although the seller was not disclosed, Brookfield Property Partners assumed ownership of the mall in 2018 as part of its $15 billion acquisition of giant shopping mall operator GGP Inc. The price was not disclosed. According to …

Auburn Hills, Mich. — Marcus & Millichap has brokered the $8.9 million sale of Shops at the Crossing, a retail center located in Auburn Hills. Built in 2002, the property comprises 48,364 square feet. Jared Shapiro, Craig Fuller, Erin Patton and Scott Wiles of Marcus & Millichap represented the seller, a private company based in Michigan. The team also procured the buyer, a West Coast-based private fund. The brokerage firm’s Steve Chaben assisted in closing the transaction as the Michigan broker of record.