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| Amy Sands |
CHICAGO, IL – JLL Capital Markets has closed the $45 million sale of Tel Twelve, a 193,850-square-foot, open-air, retail center located within the Detroit MSA in Southfield, Michigan.
JLL represented the seller, RPT
Realty, and procured the buyer, Kaufman & Jacobs, LLC, a
Chicago-based real estate private equity firm.
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| Clinton Mitchell |
Built in 1968 and renovated in 2005, the
97.8-percent-leased Tel Twelve is anchored and junior-anchored by Best Buy, Ulta,
DSW, PetSmart, BuyBuy Baby and Michaels.
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| Michael Nieder |
Shadow anchors include Meijer and Lowe’s, driving additional traffic to the site.
Additionally, the newly developed Chick-Fil-A
outlot recently entered a 15-year ground lease. Over the last 12 months, the
site has seen 4.8 million visitors.
Located at 28400 Telegraph Rd., Tel Twelve is situated at the intersection of Telegraph Road and 12 Mile Road, two of the heaviest traveled roads in southeast Michigan with a total of 100,000 vehicles per day.
The
property is just 20 miles northwest of downtown Detroit and .5 miles away from
I-96. The center benefits from the 62,856 residents within a three-mile radius.
For more news, videos and research resources on
JLL, please visit our newsroom.
CONTACT:
Jenna
Sharp, Associate, Public Relations
Phone: +1 214 394-3356
Email: Jenna.Sharp@am.jll.com
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