DEVONSHIRE REIT BUYS SOUTH HAVEN, MICH., SHOPPING CENTER

by admin

SOUTH HAVEN, MICH.— Devonshire REIT Inc. has acquired the 40,040-square-foot South Haven Shopping Center, located about 50 miles southwest of Grand Rapids. The purchase price was undisclosed. Dollar Tree and Dunham’s Sports co-anchor the shopping center, which is fully leased. FirstMerit Bank, a division of FirstMerit Corp., provided the financing. Chris Campbell, president and CEO of Devonshire, says the sale includes an 11 percent capitalization rate.

You may also like