Retail V Michigan

Friedman sells 155,000-square-foot retail center in Michigan

Friedman Integrated Real Estate Solutions recently sold a 155,781-square-foot retail center at 67300-67500 Main St. in Richmond, Michigan. The seller, Madison Realty Capital, sold the center to Statewide Richmond, LLC.

Josh Miller, senior associate, Investment Advisory Services at Friedman, took over leasing in February of 2016, when the property was 65-percent occupied. Miller stabilized the asset through renewals including Kmart, Family Video and HP Printing and a 2,000-square-foot expansion for Treasure Friends Daycare.

Alongside the renewals and expansions, Friedman signed new leases with Richmond Athletic Club and Richmond Hearing Solutions. Miller facilitated the sale of the property in an off-market transaction with a local buyer.