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Warren-Based Investor Buys 174,000-SF Vacant Kmart Building

STERLING HEIGHTS, MI-A Super Kmart anchor, which has been dark since 2004, has been sold to Ladvas Properties south of the $7.5 million ask. The Kmart building is an anchor of the 420,000-sf Shops at Sterling Ponds, a power retail center.

By Amy Wolff Sorter | Updated on September 30, 2005

STERLING HEIGHTS, MI-Warren, MI-based Lavdas Properties has acquired a 174,000 sf former Super Kmart store from Kmart Corp., through Burr Wolff, LP, located in Houston, TX.

Anchoring the Shops at Sterling Ponds, a 420,000-sf retail power center at 33201 Van Dyke, on the northwest corner of 14 Mile Road and Van Dyke Avenue, the empty property has been on the sales block for approximately six months, though Kmart vacated the facility in 2004.

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