**Marcus & Millichap Facilitates Sale of Village Crossing Retail Center in Michigan**
Marcus & Millichap has successfully completed the sale of Village Crossing, a 17-suite retail strip property located in Spring Arbor, Michigan, for $5,475,000. The multi-tenant retail center, spanning 53,900 square feet, is situated at 7845 and 7851 Spring Arbor Road.
“Village Crossing was a retail center with strong historical occupancy but came with challenges as it was in a tertiary market,” said Darin Gross, first vice president of investments at Marcus & Millichap. “Nonetheless, we were able to procure multiple offers and close the deal within 97.27% of our asking price.”
Darin Gross, along with Seth Haron and Ashish Vakhariya, investment specialists from Marcus & Millichap’s Detroit office, held the exclusive listing to market the property on behalf of the seller and also secured the buyer.
The property consists of two buildings on an 8.4-acre lot and boasts a 94.37% occupancy rate, primarily under triple-net leases. Village Crossing is anchored by Henry Ford Health, which recently extended its lease for five years, including annual rent increases.
