Mid-America Real Estate Corporation’s Investment Sales Group recently brokered the sale of Waterside Marketplace, a dominant regional center serving Detroit’s northeast suburbs around Chesterfield Township, Michigan at the interchange of Interstate 94 and 23 Mile Road.  The 276,244-square-foot center was sold to Alpharetta, GA based Octave Holdings and Investments.

Waterside Marketplace is 93% occupied and anchored by TJ Maxx, Sierra, Burlington, Best Buy, Ulta, DSW, and Old Navy, and shadow anchored by Aldi, Lowe’s, Dick’s Sporting Goods, and JCPenney.  Complementing the anchors is a diverse array of inline tenants, a mix of national and regional operators including Carter’s, Rally House, Kid’s Empire, Five Below, and Bath & Body Works.  The high growth area surrounding Waterside Marketplace features a residential population of 109,000 with average household incomes of $112,000 within a 5-mile radius.

Mid-America Real Estate Corporation Principal Ben Wineman and Vice President Emily Gadomski were the exclusive brokers in the transaction, in cooperation with Mid-America Real Estate – Michigan, Inc. Principal Daniel Stern, on behalf of the seller, New Orleans based but nationally active PMAT Real Estate Investments.

PMAT Real Estate Investments

PMAT Real Estate Investments is a real estate development and investment platform focused on value-add Suburban Open-Air Retail (SOAR) investments across the Southeast, Sunbelt, Southwest, and Midwest regions with 100 completed transactions consisting of more than 12.5 million square feet with an aggregate value in excess of $1.50 billion. PMAT’s proven investment strategy is to acquire value-add Suburban Open-Air Retail (SOAR) assets anchored by grocery, discount, off-price and necessity tenants and to create long-term value through redevelopment, renovation, and re-tenanting of these fundamentally strong investments.

More Information:

For more information on PMAT, please visit www.pmat.com or contact [email protected].

About Mid-America

Mid-America Real Estate is #1 in retail real estate services in the Midwest, with full-service offices in Illinois, Michigan, Minnesota, and Wisconsin. Our exclusive focus on retail property, combined with cutting-edge technology and unsurpassed service, distinguishes Mid-America within the industry and provides clients with a competitive edge. The company manages and leases 60 million square feet of retail space and represents over 270 retailers. Mid-America’s Investment Sales Group represents clients in the sale of retail properties throughout the greater Midwest region. The Investment Sales Group’s strategic approach combines outstanding national exposure with the best local knowledge, resulting in the successful disposition of over $16 billion to date.  For more information, visit www.midamericagrp.com.

Media Contact for More Information:

Olivia Simmons | 630.954.7363 | [email protected]