SRS Brokers $7.8M Sale of CVS-Occupied Property in Ann Arbor

by Kristin Harlow

ANN ARBOR, MICH. — SRS Real Estate Partners has brokered the sale of a 13,040-square-foot retail property occupied by CVS Pharmacy in Ann Arbor for $7.8 million. Originally constructed in 1930, the building is located at 209 S. State St. adjacent to the University of Michigan. John Redfield of SRS represented the seller, a northern California-based private investor. Michael Carter and Frank Rogers of SRS represented the buyer, a Michigan-based investment company completing a 1031 exchange. CVS has more than 14 years remaining on its triple net lease.

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