Developers purchase Walker shopping center

688
Courtesy Boji Group

Two Michigan real estate developers partnered to acquire a retail center for $23 million.

Boji Group and Bacall Companies closed an agreement Monday, Dec. 6, to purchase Green Ridge Square at 3298 Alpine Ave. NW in Walker.

The 214,400-square-foot shopping center has a variety of stores and restaurants, including Best Buy, Bed Bath & Beyond, Five Below, Michaels and Panera Bread. Green Ridge Square currently is 90% leased with 21 clients.

“As Boji Group continues to grow, our expansion into Walker is a sign of confidence in the Grand Rapids metro area,” said Ron Boji, president and CEO of Boji Group. “We are ready to help Walker and the Alpine Avenue corridor continue to expand and thrive in coming years.”

Lansing-based Boji Group has a 3 million-square-foot portfolio. It has developments in Kalamazoo and Battle Creek, but Green Ridge Square is its largest investment in the Grand Rapids market. The retail center now is a part of Boji Group’s 350,000-square-foot retail portfolio.

Farmington Hills-based Bacall Companies manages more than 2 million square feet of retail in the Midwest. Green Ridge Square is Bacall Companies’ first development in West Michigan. The group has additional retail, hotel, food and beverage developments across fives states.

“Our assets are a reflection of our commitment of delivering well-built, state-of-the-art product in top markets to guarantee a return for our respective principals, partners and investors,” said Daivin Bacall, principal and partner of Bacall Companies. “It brings joy to see our continued company growth in Grand Rapids, and we welcome Green Ridge Square to our existing portfolio of retail, food and beverage, and hotels in Grand Rapids.”

Facebook Comments