Retail V Michigan

Cooper Commercial sells 155,000-square-foot shopping center in Michigan

Cooper Commercial sells 155,000-square-foot shopping center,ph01

The Cooper Commercial Investment Group closed the sale of Chesterfield Village, a regional power center in Chesterfield, Michigan.

The 155,958-square-foot shopping center is shadow-anchored by Target and features a tenant mix that includes Applebee’s, Panera Bread, Buffalo Wild Wings, Harbor Freight Tools and Famous Footwear.

Dan Cooper, president and broker of Cooper Commercial, represented the seller, a private investment group. The buyer bought the asset for $14.715 million, representing an 8.77 percent CAP rate.