X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

FLINT TOWNSHIP, MI-Ramco-Gershenson Properties Trust of Southfield, MI has purchased West Acres Commons here as part of a joint venture transaction. The company paid $10.8 million for the 95,000-sf shopping center, which is anchored by a Farmer Jack Supermarket, a subsidiary of A & P.

The center is located at the intersection of Linden and Corunna roads, one mile west of I-75. Genesee Valley Mall, a 1.3-million-sf regional shopping center, is also nearby. The average household income for the area is $54,000.

Ramco President Dennis Gershenson says the acquisition flows well with the company’s goal to buy high-quality, grocery-store anchored shopping centers, so the company can rebuild them to add value to already-strong areas.

The company has a portfolio of 56 shopping centers, with approximately 11.6 million sf of gross leasable area, located in Michigan, Ohio, Wisconsin, New Jersey, Maryland, Virginia, North Carolina, South Carolina, Tennessee, Georgia, Alabama and Florida.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.