Marcus & Millichap Represents Seller Schonsheck In Sale Of Willow Creek Shopping Center For $23.8M
41872 Ford Road
$23,800,000
$147/SF
Building Size
161,626 SF
Asset Type
Retail
Closing
Mar 27, 2025
AI
The property involved in this transaction is Willow Creek Shopping Center, a fully leased retail center encompassing 161,626 square feet located at 41872 Ford Road in Canton, MI. The asset was sold for $23.8 million, sitting on a substantial 18 acres of land. The price per square foot was recorded at $147.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $23,800,000
- Address: 41872 Ford Road
- Market: Canton, MI
- Square Footage: 161,626
- Price per Square Foot: $147
- Acreage: 18
- Brokers: Ashish Vakhariya, Darin Gross & Seth Haron - Marcus & Millichap
Marcus & Millichap represented the seller, Schonsheck, while also procuring the buyer in this transaction. The shopping center is strategically shadow-anchored by Michigan’s only IKEA and serves a high-income trade area with a population of 221,245 residents, located near I-275.
Players
Canton Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.67%
Cash-on-Cash
-0.19%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93