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SOUTHFIELD, MI-The Woodhaven Village Square shopping center in Woodhaven, MI has been put up for sale. The 80,414-square-foot property was listed for $11 million, or about $137.80 per square foot.

The shopping center was created in 1999 on 5.2 acres at the intersection of West and Allen Roads. Simon Jonna and Alvin Mansour of Marcus & Millichap Real Estate Investment Services are representing the seller.

Woodhaven is located in a busy retail sector here, with big box retailers like Costco, Lowe’s, Target, Kmart and Meijer surrounding the facility. The shopping center is 100% occupied with tenants like Michael’s, PetSmart, Dollar Castle and Office Depot. More than 50,000 vehicles pass through the area daily.

According to a Marcus & Millichap release about the sale the asset has a 7.95% cap rate and a cash-on-cash return on investment of 15.27%.

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