TEI Acquires 205,435-Square-Foot Shopping Center in Metro Detroit for $23.5 Million

Sterling Heights, Mich. — Time Equities Inc. (TEI) has acquired Clinton Valley Shopping Center, a 205,435-square-foot retail center located in the Detroit suburb of Sterling Heights, for $23.5 million.

The property is currently 91 percent occupied by tenants including Hobby Lobby, Office Depot, DSW, OptimeEyes, Avenue, GameStop, Lifeway Christian, Carrabba’s Italian Grill and BD’s Mongolian Barbeque. Ami Ziff, Jonathan Kim and Adam Levitt of TEI represented TEI in the acquisition. Ben Wineman of Mid-America Real Estate Group represented the seller, Ramco-Gershenson Properties Trust.