Retail center near Walmart in Pittsfield Township is sold
The property, located at 6961 E. Michigan Ave., just south of the Walmart shopping complex, sold for $1.95 million. In January, the building was listed for $3.415 million.
Photo from loopnet.com
Bruce Morrison of Signature Associates in Southfield represented both the seller, The Findling Law Firm, and the purchaser, Tommy Hannawa of Saline Murray’s LLC.
Morrison said he didn’t receive much interest on the space before the building was sold to Hannawa. He said there were 10 offers on the property while he had it listed.
Morrison said in January that the economy and lack of lending was stalling any potential deals.
The tenants, O’Reilly Auto Parts, Biggby Coffee and a Chase ATM, all have long-term leases and will remain in the building, Morrison said. The Biggby location opened earlier this year.
“The tenants are happy, he’s happy, everybody’s happy,” he said.