The property is about 89% occupied, says Ashish Vakhariya withMarcus & Millichap Real Estate Investment Brokerage Co., whichrepresented the buyer. Tenants include PetSmart, Office Depot,Michaels and Applebee's. Marc Strauss with Marcus & Millichap'sFt. Lauderdale office represented Rosen.
The seller was looking to shift funds in a different direction,Vakhariya says. The property is surrounded by new developments andplanned projects, which include a new Wal-Mart, Costco, Home Depot,Target and Lowe's, he says.
"In the Downriver area, there are pockets that are very good,including Woodhaven," Vakhariya tells GlobeSt.com. "There's verystrong activity due to the population shift downriver. Also, thissite benefits from being on Allen Road only a half mile off ofI-75."
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