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  Nassimi Realty Acquires Shopping Centers in Durham, NC and Lincoln Park, MI
CATEGORY: AcquisitionsREGION: NortheastPROPERTY: Durham PlazaPOSTED ON: September, 11 2015

DURHAM, MI - Nassimi Realty is today announcing the purchase of two shopping centers totaling in excess of 410,000F combined: Durham Plaza in North Carolina and Lincoln Park Plaza in Michigan.
Durham Plaza is a 235,000 SF regional Shopping Center in Durham, North Carolina located just off Interstate 85/US-70 (75,000 VPD) at the Avondale Drive junction (17,000 VPD). The center is over 90% occupied by a diverse mix of national and regional tenants including Big Lots, Kimbrell’s Furniture, Compare Foods, Harbor Freight Tools, Surplus Warehouse, along with local retailers catering to the community.
The Plaza has served as an integral commercial center of a dense surrounding populace since construction in the early 1970s. The Durham Area Transit Authority (DATA) bus line drops off and picks up at the city bus stop located directly in the middle of the Plaza allowing a great traffic of people to come in/out of the center. The City of Durham was recently named by Forbes Magazine as the “Number One Best Mid-Sized City for Jobs,” while U.S. News and World Report ranks the city in its “Top 10 Best Places to Live” list.
Lincoln Park Plaza is a ±176,000 SF Shopping Center located in Lincoln Park (metropolitan Detroit), MI on the heavy trafficked M-85/Fort Street corridor which offers great access to the densely populated neighborhoods. The Plaza has Ace Hardware as its anchor tenant and is complimented by other national tenants such as Dollar Tree, Check and Go, H&R Block and Hallmark Cards. The center has strong neighborhood demographics and strong traffic counts (34,000 VPD) which make it a steady and prosperous plaza.
Additionally, the close proximity of Ford Motor Company’s headquarters and other auto manufacturers are contributing to the city of Lincoln Park by providing a dense residential population and a strong customer base for commercial retailers. All of the surrounding homes make this plaza a “go to” spot as a neighborhood retailer.
Nassimi Realty’s president, Mike Nassimi, stated: “We are delighted to expand our portfolio with the acquisition of these two stable and successful centers.”
Nassimi Realty is a privately held, diversified development and investment company that specializes in redevelopment "turnarounds" of existing properties and ground up developments for decades. Over the last four decades, Nassimi Realty has assembled an impressive, distinct portfolio of quality assets, diversified over many different asset classes and geographic locations. The portfolio consists of distinctive shopping centers, office buildings, industrial assets, residential properties, as well as land holdings. Please visit our website to see all our properties and our newest acquisitions: www.nassimirealty.com. For more information, contact us at leasing@nassimirealty.com or acquisitions@nassimirealty.com.

Related Link: GREYSTEEL ARRANGES THE SALE OF 234,500 SQUARE FOOT GROCERY ANCHORED DURHAM PLAZA IN DURHAM, NORTH CAROLINA



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