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Marcus & Millichap Represents Seller Schonsheck In Sale Of Willow Creek Shopping Center For $23.8M

Property Image
SOLD
$23,800,000
Seth Haron
Darin Gross
Ashish Vakhariya

Michigan

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Retail161,626 SF
Sold 03/27/2025
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Property Image
SOLD

Marcus & Millichap Represents Seller Schonsheck In Sale Of Willow Creek Shopping Center For $23.8M

41872 Ford Road

See Similar Deals
Retail161,626 SF
Sold 03/27/2025
Seth Haron
Darin Gross
Ashish Vakhariya
the dealplayerscompscontact
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Summary

MICHIGAN
Asset Type:Retail
Price Per Square Foot:$147
Total Square Footage:161,626 SF
Transaction Type:Sale

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:

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

Seth Haron
Marcus & Millichap
Seth Haron
12 deals$107.9M volume
BROKER
Ashish Vakhariya
Marcus & Millichap
Ashish Vakhariya
12 deals$107.9M volume
BROKER
Darin Gross
Marcus & Millichap
Darin Gross
12 deals$107.9M volume
BROKER

Details

SOLD
IMAGE: 03/27/2025 ADDRESS: 41872 Ford Road MARKET: Canton, MI ASSET TYPE: Retail ~ ACRES: 18 BROKERS: Ashish Vakhariya, Darin Gross & Seth Haron - Marcus & Millichap SALE PRICE: $23,800,000 SF: 161,626 ~ PPSF: $147 NOTE: Willow Creek Shopping Center, a 161,626-square-foot power center in Canton, Mich., sold for $23.8 million, with Marcus & Millichap representing seller Schonsheck and procuring the buyer. The fully leased retail center, shadow-anchored by Michigan’s only IKEA, sits on 18 acres near I-275 and serves a high-income trade area of 221,245 residents.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$1,269,333.33

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$84,556.37
Cash-on-Cash Return-1.27%
Monthly Debt Service$112,824.14
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