CHICAGO (February 25, 2022)- Mid-America Real Estate Corporation’s Investment Sales team brokered the sale of a Target shadow anchored community center anchored by an array of national retail category leaders including Burlington, Best Buy, Michaels, Five Below, Panera, and Bed Bath & Beyond. The 216,404 square-foot property was sold to Michigan-based Bacall Companies and The Boji Group.
Green Ridge Square is situated along the Alpine Avenue retail corridor, one of the major sub-regional trade areas that serves the Grand Rapids metro area. The heavily trafficked retail corridor generates 50,000 vehicles per day and the center is positioned adjacent to a full interchange with I-96. The area surrounding Green Ridge Square features a strong demographic profile with a residential population of 157,000 with average household incomes of $70,508. The center is 88% leased and features upside potential.
Mid-America Real Estate Corporation Principal Ben Wineman, in cooperation with Mid- America Real Estate- Michigan, Inc. Principal Daniel Stern (a Licensed Michigan Broker), were the exclusive brokers in the transaction on behalf of the seller, New York City-based Retail Value Inc (RVI).
About Mid-America Real Estate Group
Mid-America Real Estate Group is the largest regional retail property services firm in the Midwest. The organization’s exclusive focus on retail real estate, combined with cutting-edge technology and unsurpassed service, distinguishes Mid-America within the industry and provides clients with a competitive edge. The company manages and leases 42 million square feet of retail space, and represents over 270 retailers. Mid-America’s Investment Sales Group represents clients in the sale of retail properties throughout the greater Midwest region. The Investment Sales Group’s strategic approach combines outstanding national exposure with the best local knowledge, resulting in the successful disposition of over $12.15 billion to date. For more information, visit www.midamericagrp.com.
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