West Coast investor makes large Midwest purchase

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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. Colliers International provides commercial real estate services locally and globally. ...