West Coast investor makes large Midwest purchase

San Diego investor Port Emerald LLC has purchased a 136,421-square-foot retail building in Port Huron, Mich.

The value of the transaction was approximately $16.2 million.

The property, located at 1132 32nd St., is leased to Sam's Club, which assumed a 25-year lease term from Pace department store. Thirteen years remain on the absolute net lease.

The seller was Port Huron Southern Ltd.

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