The Nagawaukee Shopping Center, built by TOLD Development in 1994 and anchored by a Kohl's department store, sold for $15 million to Ramco-Gershenson, a real estate investment trust that primarily invests in shopping centers in Eastern and Midwestern metropolitan markets.
The anchor tenant location within the center comprises roughly 75 percent of the entire space purchased. This deal was part of a larger acquisition which included four additional out-of-state shopping centers in addition to this one in separate transactions.
TOLD Development Co. was represented by Joe Girardi of Mid-America Asset Management, Inc. while the purchasers were represented in-house.
Please see CoStar COMPS #2490415 for additional information on this transaction.