Oxford, Mich. -- X Team, an international alliance of retail real estate advisors, announced that Detroit-based partner Stokas Bieri Real Estate represented Center Management in the purchase of The Promenade at Waterside in Oxford, Mich.
The 67,000-sq.-ft. retail development currently has a 13,000-sq.-ft. specialty strip shopping center with the potential for 57,000 sq. ft. of additional retail space. The center is next to Meijer and includes tenants Tim Horton’s, BoRics and a former Chili’s. Future retail spaces will range from 1,400 sq. ft. to 25,000 sq. ft. build-to-suits. Divisible outlot spaces are currently available up to 4,100 sq. ft.
The seller was Beltway Capital Management; terms of the deal were not disclosed.