Real estate firm buys shopping center
A real estate firm based on the state’s east side has purchased a shopping center in the area.
Bingham Farms-based Alrig USA purchased The Crossings in Gaines Township, at 6333 Kalamazoo Ave. SE.
The list price for the 21,170-square-foot property was $4.2 million.
Alrig USA was represented by Grand Rapids-based DAR Development in the purchase.
The seller, V & V Crossings, was represented by Larry Branscombe of Keller Williams Commercial Rivertown.
“Alrig USA was drawn to this Starbucks-anchored asset, because of its dominant position in a growing retail market and its close proximity to the M-6 interchange,” said Dave Denton, VP, DAR Development.
The shopping center features several other tenants, such as Smashburger, Penn Station, Sprint, Midnite Sun, Bloop Yogurt and Dirty Hairy’s.
Alrig USA owns and operates more than 1.5 million square feet of office space in metro Detroit and has more than 50 retail developments in the country.