Friedman Arranges MI Retail Sale
- Jul 25, 2018
Friedman Real Estate has brokered the sale of Cantown Townplace, a 36,600-square-foot retail property located in Canton, Mich. Midwest 8 sold the asset, which is fully leased to ABC Warehouse and Petco, to Deuter 31:6 LLC of Ann Arbor.
“The multi-tenant property is currently 100% leased on a long term NNN basis. The purchaser was able to achieve an above market yield on an A+ retail property located in one of the most robust commercial markets in Southeast Michigan,” said Associate Steven Silverman, the buyer’s broker, in prepared remarks.
The property is located at 43473 Ford Road, a few blocks from the interchange at Interstate 275 and Ford Road. It is part of a larger retail corridor on Ford Road, with a Target store, Boston Market and an Applebee’s restaurant across the street. The center also serves one of the densest residential areas in the Canton Township.
Image courtesy of Friedman Real Estate