Marcus & Millichap Arranges $4.7M Acquisition Loan for Retail Property in Northville, Michigan

by Kristin Harlow

NORTHVILLE, MICH. — Marcus & Millichap Capital Corp. (MMCC) has arranged a $4.7 million loan for the acquisition of a 28,780-square-foot retail property occupied by Fresh Thyme Market in Northville, a northwest suburb of Detroit. Constructed in 2015 as a build-to-suit for the grocery store, the building is located at 15480 Sheldon Road. Chad O’Connor of MMCC arranged the loan on behalf of the undisclosed borrower. The 10-year loan features a fixed interest rate of 5.37 percent, a 30-year amortization schedule and a 45 percent loan-to-value ratio.

You may also like