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STERLING HEIGHTS, MI-The Hayman Co. of Troy, MI has acquired of The Forum at Gateways Shopping Center. The recently constructed shopping center is a 260,000-sf retail center anchored by WalMart and Farmer Jacks.

The purchase price was not disclosed.

Other tenants include Blockbuster, Payless Shoes, Radio Shack and Hallmark. The Forum is located in one of the highest residential growth areas in Michigan.

The company will manage and lease this property and will oversee construction of an office and medical building that will be constructed within this development. This additional development will be approximately 13,000 sf. Construction is scheduled to start within 90 days.

“This acquisition is a great opportunity for us in the expansion of our retail portfolio. This asset provides us with new construction and high credit anchor tenants in a market that has a high barriers to entry,” says Andrew E. Hayman, senior vice president, in a statement.

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