SOUTHFIELD AND HOLLAND, MICH. — Nassimi Realty has acquired two shopping centers, signaling the firm’s first foray into the Michigan real estate market. The first, Southfield Plaza at Northland Shopping Center, was acquired from American General Life & Accident Co. The center, located on Northwest Highway in Southfield, consists of a 300,000-square-foot former JC Penney connected to Northland Shopping Center, as well as a 27,725-square-foot outlot building. Nassimi plans to renovate and reposition the buildings.
The second center, Cedar Village Plaza, is a 217,213-square-foot shopping center located at the corner of Chicago Drive and South Waverly Road in Holland. It is anchored by Big K-Mart and Dollar General, and features tenants such as Little Caesars Pizza, Baker Book House and Regis. The property was acquired from A&C Co. The acquisition prices were not disclosed.