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DealPoint Merrill Plans Revamp of Detroit-Area Center
Los Angeles-based DealPoint Merrill has acquired a shopping center in Southgate, MI formerly anchored by a Kroger supermarket. Seller and pricing were not disclosed.
The property is located on 13.5 acres along Eureka Boulevard in Southgate, a suburb of Detroit, which counts Ford and General Motors operations in the nearby trade area. Co-anchors include Logan’s Roadhouse and Dunham Sports.
The new owner plans a redevelopment that will focus on the renovation of the existing shopping center, and will include an additional 93,000 square feet and a retail pad on the 1.85 acres of a future parcel.
The company’s growing portfolio includes acquiring several vacant big-box properties from Kmart, Albertsons, Kroger, Sears, Shaw’s, Macy’s, Walmart and Giant Eagle, in line with its strategy of value-added renovation and redevelopment of multi-tenant retail properties.
For comments, questions or concerns, please contact Paul Bubny
- ◦Sale/Acquisition
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