Newport Beach, Calif.-based CORE Realty Holdings LLC has acquired West Michigan Industrial in Grand Rapids, Mich., as its first major offering for tenant-in-common investors.
The value of the transaction was $61.3 million.
The industrial portfolio includes 11 buildings with a total square footage of 1.68 million square feet occupied by 21 tenants.
The two largest occupants of the property, Empire Company, with 222,000 square feet, and Applied Textiles Inc., with 210,000 square feet, occupy 13 percent and 12 percent, respectively.
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