WOODLAND HILLS, Calif., Oct. 13, 2020 /PRNewswire/ — DealPoint Merrill, LLC, an owner and operator of value-added real estate opportunities and sponsor of real estate investment offerings, acquired a 69,275 square foot former Kroger Shopping Center on 7 acres located in the retail corridor of Sterling Heights, Michigan.
The property is in a growing community on the corner of Dequindre Rd. and 18 Mile Rd. with excellent visibility and adjacent to major national retail chains, with co-anchors McDonald’s and Mobile gas station and across the street from the newly relocated Super Kroger grocery. DealPoint Merrill plans to redevelop the property into a new 138,000 square-foot development.
DealPoint Merrill’s executives, David Frank, CEO, negotiated the transaction, and Sterling McGregor, President, handled the due diligence and financing of the purchase. Jason Limbert, Director of acquisitions, and Tyler Bendicksen, head of investment underwriting, participated in the DealPoint’