Mike Nassimi, president of the self-named firm, says he cannotcomment on the price of the sale. His firm closed on the sale of afour-property portfolio of Midwest retail centers in January, withsources saying Nassimi paid about $9.3 million for the 149,182-sfPlaza West strip mall in Evansville, IN and $4.6 million for KmartPlaza in Springfield, OH. The portfolio also included the185,589-sf Target 31 and the 27,400-sf Felbram Plaza inIndianapolis. The company owns five million sf of retailnationwide, and 15 of its 25 centers are in the Midwest. Nassimisays he's under contract for another property in Illinois, butwould not name the site.

The two recent purchases make up the company's first foray intoMichigan, Nassimi says. "We like value-add properties that in ouropinion are neglected, not managed well or for whatever reason havefallen behind," he tells GlobeSt.com. "We then bring new life tothe center."

Cedar Village was purchased from A&C Co. LLC. The89%-occupied property, at the corner of Chicago Drive and SouthWaverly Road, is anchored by Big Kmart and Dollar General. Nassimiwouldn't say the price. Sources say the 415,804-sf Westshore Mallin Holland was purchased in November by Howard & Mills Inc. forabout $13 million, with anchors including Dunhams and J.C.Penney.