 |
| Amy Sands |
CHICAGO, IL, Feb. 21, 2022 – JLL Capital Markets has closed the sale of Felch Street Shopping Center, a 166,100-square-foot, fully leased destination retail center in the Grand Rapids community of Holland, Michigan.
JLL marketed the property on behalf of the
seller. A private fund based in the Southeast purchased the asset.
 |
| Clinton Mitchell |
Additionally, the center is shadow anchored by a
Lowe’s Home Improvement.
Positioned at 12635 Feltch St., the center is in
Holland, a western Michigan community that attracts more than one million
visitors each year and that Forbes named one of “America’s Prettiest Towns.”
Felch Street Shopping Center is at the highly
visible location at the intersection of US Highway 31 and Riley Street in the
heart of a dominant regional shopping corridor.
 |
| Michael Nieder |
The JLL Retail Capital Markets team representing
the seller was led by Managing Directors Amy Sands and Clinton
Mitchell and Director Michael Nieder, along with Managing Director Matthew
Schoenfeldt.
“We continue to see an influx of new capital
targeting open-air retail in the Midwest due to the stability and attractive
yield profile relative to other domestic regions,” Mitchell said.
“JLL’s
national platform was key in identifying a first-to-market investor who had not
previously invested in the region”.
JLL Capital Markets is a full-service global
provider of capital solutions for real estate investors and occupiers.
 |
| Matthew Schoenfeldt |
The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
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JLL, please visit our newsroom.
Contact:
Kimberly Steele
JLL Manager
Public
Relations
Phone: +1 713 852 3420
Email: Kimberly.Steele@am.jll.com
