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Detroit power center changes hands


Shelby Crossings, a 76,390-sq.-ft. power center in the Detroit suburb of Utica, has been acquired by Beverly Hills, Michigan-based Grand Management & Development.

Mid-America Real Estate Corp., which represented the seller in the transaction, could not disclose the price.

The property features the Bed Bath & Beyond subsidiaries Christmas Tree Shops and BuyBuy Baby, and is surrounded by a larger regional center anchored by Target and Planet Fitness.

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