Disposition of Iron Mountain Plaza completed

Agree Realty Corp. has sold a 176,352-square-foot shopping center located in Iron Mountain, Mich.

The value of the transaction was approximately $8.8 million.

The company developed Iron Mountain Plaza in 1991.

At the time of sale, the property was 98 percent leased, and was anchored by Kmart Corp. and Roundy's.

The property was sold to a private investor.

Agree Realty Corp. is engaged in the ownership, management and development of retail properties located across 14 states.

***

What's your opinion? Send your Letter to the Editor to opinion@inman.com.

All rights reserved. This content may not be used or reproduced in any manner whatsoever, in part or in whole, without written permission of Inman News. Use of this content without permission is a violation of federal copyright law.