Firm buys shopping center
A shopping center in town is under new ownership.
Real estate investor 1923 Property, LLC purchased the 20,168-square-foot shopping center at 3325 Plainfield Ave. NE in Grand Rapids from Northland Plaza, LLC for an undisclosed price, according to NAI Wisinski West Michigan this week.
The shopping center is home to tenants such as Family Fitness of Grand Rapids and Mirage Tanning Centers, and the center has end-cap retail space available.
The center’s storefronts will be renovated in the near future.
Bill Tyson and Todd Leinberger, retail specialists with NAI Wisinski West Michigan, represented the buyer, 1923 Property, LLC, in the deal.
Darrel Herweyer, president of DAR Development, represented the seller, Northland Plaza LLC, in the deal.
Prior to closing, Tyson and Leinberger assisted the buyer in negotiating longer-term leases with the current tenants, who previously had month-to-month leases.