Cleeman Realty Group is pleased to announce the off-market sale of a Caledonia Village, a D&W Fresh Market anchored shopping center in Caledonia, MI. The property is located on approximately 11.88 acres and consists of 78,631 SF. D&W Fresh Market is a subsidiary of SpartanNash (NASDAQ: SPTN) and operates 11 stores in the Michigan area. D&W has been at this location since 1981 and has made significant improvements to their store over the years including the addition of an onsite pharmacy and fuel station. The property also includes a strong lineup of local, regional, and national tenants including Rite Aid and was 96.60% occupied at the time of sale.
Jeremy Scheer and Sam Seelenfreund of Cleeman Realty Group represented the buyer and seller in this off-market transaction.
“The buyer was attracted to the high performing grocery anchor tenant and the strong demographics of the Grand Rapids MSA,” said Scheer. “The seller felt this was an opportune time to exit the investment as grocery anchored shopping centers have continued to see a compression in cap rates post-pandemic,” said Seelenfreund.
Cleeman Realty Group is a full-service real estate advisory and investment group, specializing in the investment sales of retail, multifamily and industrial properties throughout the United States. The Cleeman team utilizes deeply rooted industry contacts to identify and evaluate off-market transactions with unparalleled efficiency. To sell your property or to inquire about our available acquisition opportunities, please contact one of our team members at www.cleeman.com