Marcus & Millichap Sells Grocery-Anchored Retail Center Merchants Crossing In Jackson, Michigan For $8M
1100 West Argyle Street Jackson, MI 49202, USA
$8,000,000
$72/SF
Building Size
110,070 SF
Asset Type
Retail
Closing
Sep 7, 2023
AI
Merchants Crossing, a grocery-anchored retail center located at 1100 West Argyle Street in Jackson, Michigan, has been sold for $8 million. The property spans a total area of 110,070 square feet, resulting in a price per square foot of $73. The transaction was facilitated by Marcus & Millichap's Detroit office and involved an all-cash buyer.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $8,000,000
- Address: 1100 West Argyle Street, Jackson, Michigan
- Market: Jackson, Michigan
- Brokers: Ashish Vakhariya, Seth Haron, and Darin Gross from Marcus & Millichap
- Property Size: 110,070 square feet
- Price per Square Foot: $73
The sale of Merchants Crossing attracted multiple offers before being acquired by the all-cash buyer. Kroger and Big Lots serve as anchor tenants for the retail center, contributing to its appeal. Marcus & Millichap's Detroit office, represented by brokers Ashish Vakhariya, Seth Haron, and Darin Gross, successfully facilitated the transaction, marking another milestone for the renowned brokerage firm.
Players
Jackson Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.98%
Cash-on-Cash
-0.57%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93