Firm buys suburban shopping center
A shopping center in the area with a big-box space has changed hands.
Orchard Plaza in Byron Township, at 701 68th St. SW, was purchased by Friedman Real Estate's Detroit office, according to NAI Wisinski of West Michigan.
The sales price was not disclosed.
The shopping center is comprised of two retail buildings: a 70,787-square-foot, multi-tenant strip and a 115,662-square-foot big box.
The strip includes Dollar Tree, Supercuts, Fit Body Boot Camp and Tractor Supply Co., and the big box is vacant.
Friedman Real Estate intends to re-tenant the big-box space.
“We had tremendous interest in this property,” said Russ Bono, investment specialist, NAI Wisinski of West Michigan. “There are many Investors in this market looking to re-purpose well-located, vacant big-box space. This property had the added component of an in-line retail center that is performing well."